PSB 7-2 Prepare Vertical Analyses #2 Notes: All calculations throughout this exercise should be rounded to two decimal places. Within your answer enter all accounts in the same order given in the instructions for the most recent year. Photography Professionals Income Statement For the Year Ended December 31, 2027 Revenues: Service Revenue $ 88,500 Expenses: Salaries Expense $ 59,000 Photo Supplies Expense 16,200 Advertising Expense 6,800 Telephone Expense 1,600 Depreciation Expense 1,400 Postage Expense 1,125 Office Supplies Expense 500 Miscellaneous Expense 440 Total Expenses 87,065 Net Income $ 1,435