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Jiminez, Inc., had the following transactions during the month of March 2015. Prepare an income statement based on this information, being careful to include only those items that should appear in that financial statement. 1. Cash received from bank loans was $10,000Revenues earned and received in cash were $9,850. 3. Dividends of $4,000 were paid to stockholders. 4. Expenses incurred and paid were $5,465

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abiolataiwo2015

Based on the information given the income statement for Jiminez Inc is: $4,535.

Income statement:

Income statement=Revenues -Expenses

Jiminez, Inc. Income Statement for the month ended March 2015:

Revenue earned and received $10,000

Less  Expenses incurred and paid $5,465

Net income $4,535

($10,000-$5,465)

Inconclusion the income statement for Jiminez Inc is: $4,535.

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