what is the income statement

Required information Problem 3-8B Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The following information applies to the questions displayed below The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Accounts Debits $ 3,500 8,500 2,500 16,000 Credits Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings $4,000 2,000 3,000 13,000 8,500 Totals $30,500 $30,500 The following is a summary of the transactions for the year: 1. January 2. March 3. May 4. June 5. September 15 Pay utilities of $3,000 from 2020 (prior year). 6. November 7. December 30 Pay $1,000 cash dividends to stockholders. 24 Provide plumbing services for cash, $10,000, and on account, $55,000. 13 Collect on accounts receivable, $43,000. 6 Issue shares of common stock in exchange for $12,000 cash. 30 Pay salaries for the current year, $31,000. 24 Receive cash in advance from customers, $6,000 The following information is available for the adjusting entries Depreciation for the year on the machinery is $4,000. Plumbing supplies remaining on hand at the end of the year equal $1,200. Of the $10,000 paid in advance by customers, $5,000 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $8,000