Question: Prepare the income statement for the current month. [ The following information applies to the questions displayed below. ] Sanyu Sony started a new business

Prepare the income statement for the current month.
[The following information applies to the questions displayed below.]
Sanyu Sony started a new business and completed these transactions during December.
December 1 Sanyu Sony transferred $68,100 cash from a personal savings account to a checking account in the name of Sony Electric.
December 2 The company paid $1,200 cash for the December rent.
December 3 The company purchased $13,300 of electrical equipment by paying $5,100 cash and agreeing to pay the $8,200 balance in 30 days.
December 5 The company purchased supplies by paying $900 cash.
December 6 The company completed electrical work and immediately collected $1,400 cash for these services.
December 8 The company purchased $2,820 of office equipment on credit.
December 15 The company completed electrical work on credit in the amount of $5,800.
December 18 The company purchased $410 of supplies on credit.
December 20 The company paid $2,820 cash for the office equipment purchased on December 8.
December 24 The company billed a client $900 for electrical work completed; the balance is due in 30 days.
December 28 The company received $5,800 cash for the work completed on December 15.
December 29 The company paid the assistants salary of $1,800 cash for this month.
December 30 The company paid $540 cash for this months utility bill.
December 31 Sanyu Sony withdrew $940 cash from the company for personal use.

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