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Do It! Review 1-3 (Part Level Submission)Marsh Corporation began operations on January 1, 2014. The following information is available for Marsh Corporation on December 31, 2014.Accounts payable $ 9,800 Notes payable $ 16,600Accounts receivable 6,800 Rent expense 14,800Advertising expense 4,410 Retained earnings ?Cash 7,900 Service revenue 34,600Common stock 19,800 Supplies 6,700Dividends 7,300 Supplies expense 1,290Equipment 31,600
Prepare an income statement for Marsh Corporation.

Respuesta :

TomShelby

Answer:

Income Statement for the Year ended December 31th,2014

Service revenue                      34,600

Rent expense           14,800

Advertising expense  4,410

Supplies expense      1,290

Total expenses                        20,500  

Net income                               14,100

Explanation:

For the incoem statemnt we will only work with revenues and expenses account.

we list all the revenues first.

then, we list and  add up all the expenses accout

finally, we subtract from revenues to get the net income.

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