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The following information relates to Ivanhoe Co. for the year 2020. Owner's capital, January 1, 2020 $ 68,837 Advertising expense $ 2,581 Owner's drawings during 2020 8,605 Rent expense 14,915 Service revenue 91,209 Utilities expense 4,446 Salaries and wages expense 42,306 (a1) After analyzing the data, prepare an income statement for the year ending December 31, 2020.

The following information relates to Ivanhoe Co. for the year 2020. Owner's capital, January 1, 2020 $ 68,837 Advertising expense $ 2,581 Owner's drawings during 2020 8,605 Rent expense 14,915 Service revenue 91,209 Utilities expense 4,446 Salaries and wages expense 42,306 (a1) After analyzing the data, prepare an income statement for the year ending December 31, 2020.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information relates to Ivanhoe Co. for the year 2020. Owner's capital, January 1, 202O $ 68,837 Advertising expense $ 2,581 Owner's drawings during 2020 8,605 Rent expense 14,915 Service revenue 91,209 Utilities expense 4,446 Salaries and wages expense 42,306 (a1) After analyzing the data, prepare an income statement for the year ending December 31, 2020. IVANHOE CO. Income Statement
Transcribed Image Text:The following information relates to Ivanhoe Co. for the year 2020. Owner's capital, January 1, 202O $ 68,837 Advertising expense $ 2,581 Owner's drawings during 2020 8,605 Rent expense 14,915 Service revenue 91,209 Utilities expense 4,446 Salaries and wages expense 42,306 (a1) After analyzing the data, prepare an income statement for the year ending December 31, 2020. IVANHOE CO. Income Statement
$ 2$
Transcribed Image Text:$ 2$
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