I need prepare the income statement in accordance with genrally accepted accounting principles. Revenue: services provides to cotumers.......$17,000 investment by stockholders..............5,000 loan from bank.....................................15,000 total $37,000 expenses: Payments to long-term creditors...........................$11,700 expenses required to provide services to cutomers....................................................7,800 purchased of land......................................................16,000 total 35,500 net income $1,500
I need prepare the income statement in accordance with genrally accepted accounting principles.
Revenue:
services provides to cotumers.......$17,000
investment by stockholders..............5,000
loan from bank.....................................15,000
total $37,000
expenses:
Payments to long-term creditors...........................$11,700
expenses required to provide
services to cutomers....................................................7,800
purchased of land......................................................16,000
total 35,500
net income $1,500
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