The following items are taken from the financial statements of Blue Spruce Company for the year ending December 31, 2022: Accounts payable $17,200 Accounts receivable $7,000 Accumulated depreciation-equipment $5,000 Bonds payable $17,000 Cash $22,000 Common stock $26,400 Cost of good sold $27,600 Depreciation expense $5,700 Dividends $$5,200 Equipment $40,000 Interest expense $2,000 Patents $5,180 Retained earnings January 1, 2022 $5,700 Salaries and wages expense $5,300 Sales revenue $51,500 Supplies $2,800 PREPARE AN INCOME STATEMENT.

The following items are taken from the financial statements of Blue Spruce Company for the year ending December 31, 2022: Accounts payable $17,200 Accounts receivable $7,000 Accumulated depreciation-equipment $5,000 Bonds payable $17,000 Cash $22,000 Common stock $26,400 Cost of good sold $27,600 Depreciation expense $5,700 Dividends $$5,200 Equipment $40,000 Interest expense $2,000 Patents $5,180 Retained earnings January 1, 2022 $5,700 Salaries and wages expense $5,300 Sales revenue $51,500 Supplies $2,800 PREPARE AN INCOME STATEMENT.

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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Question

The following items are taken from the financial statements of Blue Spruce Company for the year ending December 31, 2022:

Accounts payable $17,200

Accounts receivable $7,000

Accumulated depreciation-equipment $5,000

Bonds payable $17,000

Cash $22,000

Common stock $26,400

Cost of good sold $27,600

Depreciation expense $5,700

Dividends $$5,200

Equipment $40,000

Interest expense $2,000

Patents $5,180

Retained earnings January 1, 2022 $5,700

Salaries and wages expense $5,300

Sales revenue $51,500

Supplies $2,800

PREPARE AN INCOME STATEMENT.

BLUE SPRUCE COMPANY
Income Statement
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