Chapter 1, Problem 58BPSB

Problem 1-583 Arrangement of the Income Statement

Parker Renovation Inc. renovates historical buildings for commercial use. During 2019. Parker had $763,400 of revenue from renovation services and $5,475 of interest income from miscellaneous investments. Parker incurred $222,900 of wages expense $135,000 of depreciation expense, $65,850 of insurance expense, $109,300 of utilities expense, $31,000 of miscellaneous expense, and $61,400 of income taxes expense.

Required:

Prepare a single-step income statement for Parker for 2019.