Problem 3-7A Part 4 4-a. Prepare an income statement for the year ended December 31, 2018. CRIMSON TIDE MUSIC ACADEMY Income Statement For the Year Ended December 31, 2018 42,200 Service revenue Expenses 2,100 Salaries expense 600 Interest expense Rent expense 450 1,300 Supplies expense 200 Utilities expense Depreciation expense 6,000 10,650 Total Expenses 31,550 Problem 3-7A Part 4 4-a. Prepare an income statement for the year ended December 31, 2018. CRIMSON TIDE MUSIC ACADEMY Income Statement For the Year Ended December 31, 2018 42,200 Service revenue Expenses 2,100 Salaries expense 600 Interest expense Rent expense 450 1,300 Supplies expense 200 Utilities expense Depreciation expense 6,000 10,650 Total Expenses 31,550