Prepare an Income Statement from the partial worksheet

CHAPTER 12 Completion of the Accounting Cycle for a PARTIAL WORKSHEET FOR YEAR ENDED DECEMBER 31, 201x Dr Account Tales 360 00 27000 90000 Sales Sales Returns and Allowances Sales Discount 13500 16 5 00 Purchases Returns and Alow. 108 00 3 5 000 1s000 1 4 5 00 salaries Expense insurance Expense Expense 2 4000 Rental Income Rent Expense 225 00 2 000 Salaries Payable 2663 00 369 8 00 103 5 00 369 800 369 8 00 Totals Net Income Totals -2. Prepare a statement of owner's equity and a classified balance sheet fro the worksheet for James Company in Figure 12.14. (Note: Of the Mor Payable, $240 is due within 1 year.) JAMES COMPANY PARTIAL WORKSHEET FOR YEAR ENDED DECEMBER 31, 201x Balance Sheet Account Titles Dr Ct Cash 2400000