Chapter 2, Problem 2.10BE

Financial statements

• LO2–6

The following account balances were taken from the 2018 adjusted trial balance of the Bowler Corporation: sales revenue, $325,000; cost of goods sold, $168,000; salaries expense, $45,000; rent expense, $20,000; depreciation expense, $30,000; and miscellaneous expense, $12,000. Prepare an income statement for 2018.