Question: The following revenue and expense account balances were taken from the ledger of Graphics Services Co. after the accounts had been adjusted on February 29,

The following revenue and expense account balances were taken from the ledger of Graphics Services Co. after the accounts had been adjusted on February 29, 2012, the end of the current fiscal year:

Prepare an incomestatement.

Depreciation Expense Insurance Expense Miscellaneous Expense Rent Expense $9,000 Service Revenue 4,000 Supplies Expense 5,000 Utilities Expense 36,000 Wages Expense $250,000 3,000 14,600 215,000

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