Income Statement The following account balances were taken from the adjusted trial balance for Shaw Messenger Service a delivery

Question

Income Statement The following account balances were taken from the adjusted trial balance for Shaw Messenger Service a delivery service firm for the fiscal year ended April 30 20Y1 Depreciation Expense Fees Earned Insurance Expense Miscellaneous Expense Rent Expense Salaries Expense Supplies Expense Utilities Expense Prepare an income statement Fees earned Expenses 12 000 637 200 2 280 Shaw Messenger Service Income Statement For the Year Ended April 30 20Y1 Amount Line Item Description 4 800 91 200 320 400 4 080 34 800 Salacies expense Rent expense Utilities expense Depreciation expense Supplies expense Insurance expense Miscellaneous expense Net income Total expenses V 320 400 4 080 x 12 000 X 4 800 x 2 280 x 91 200 x 34 800 x Amount 637 200 469 560 V 167 640

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