1. Revenue and Expense Recognition

   Security Specialists performs security services for local businesses. During 2019, Security Specialists performed $1,425,700 of security services and collected $1,445,000 cash from customers. Security Specialists' employees earned salaries of $82,350 per month. During 2019, Security Specialists paid salaries of $980,200 cash for work performed. At the beginning of 2019, there were $2,875 of supplies on hand. Supplies of $65,800 were purchased during the year, and $9,225 of supplies were on hand at the end of the year. Other general and administrative expenses incurred during the year were $26,500.

   Required:

   1. Calculate revenue for 2019. $

   Calculate expenses for 2019. $

   2. Prepare the 2019 income statement.

   Security Specialists
   Income Statement
   For the Year Ended December 31, 2019
   		$
   Expenses:
   	$
   		$