Chapter 4, Problem 4.6EX

Income statement; net loss

The following revenue and expense account balances were taken from the ledger of Acorn Health Services Co. after the accounts had been adjusted on January 31, 2018, the end of the fiscal year:

Depreciation Expense	$10,000
Insurance Expense	9,000
Miscellaneous Expense	8,150
Rent Expense	60,000
Service Revenue	$634,900
Supplies Expense	4,100
Utilities Expense	44,700
Wages Expense	548,200

Prepare an income statement.