Please do not give solution in image format thanku Tuscola Counseling Services is a small firm that advises job seekers on both employment and educationalternatives. Robert Gibson, the founder and president, has collected the following information for yearjust ended:Employee trainingMarketingRent and facilities costsRevenue (client fees)SuppliesTravelWages and salariesCost of services soldRequired:Prepare an income statement for the year just ended for Tuscola Counseling Services.Note: Loss amount should be indicated with a minus sign.$ 9,20070,90028,450268,50051,090TUSCOLA COUNSELING SERVICESTotal costs of services sold40,60081,900Income StatementFor the Year Just EndedMarketing and administrative costsTotal marketing and administrative costs

The income statement shows the profitability of the entity. It shows the revenues, and expenses, and…

Tuscola Counseling Services is a small firm that advises job seekers on both employment and education alternatives. Robert Gibson, the founder and president, has collected the following information for year just ended: Employee training Marketing Rent and facilities costs Revenue (client fees) Supplies Travel Wages and salaries Required: Prepare an income statement for the year just ended for Tuscola Counseling Services. Note: Loss amount should be indicated with a minus sign. Cost of services sold TUSCOLA COUNSELING SERVICES $ 9,200 70,900 28,450 268,500 51,090 40,600 81,900 Income Statement For the Year Just Ended Total costs of services sold Marketing and administrative costs Total marketing and administrative costs

Tuscola Counseling Services is a small firm that advises job seekers on both employment and education alternatives. Robert Gibson, the founder and president, has collected the following information for year just ended: Employee training Marketing Rent and facilities costs Revenue (client fees) Supplies Travel Wages and salaries Required: Prepare an income statement for the year just ended for Tuscola Counseling Services. Note: Loss amount should be indicated with a minus sign. Cost of services sold TUSCOLA COUNSELING SERVICES $ 9,200 70,900 28,450 268,500 51,090 40,600 81,900 Income Statement For the Year Just Ended Total costs of services sold Marketing and administrative costs Total marketing and administrative costs

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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