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A very inexperienced accounting-intern at Sissy Parham Incorporated prepared the following income statement for the...

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Accounting

A very inexperienced accounting-intern at Sissy Parham Incorporated prepared the following income statement for the month of December 2015. Sissy parhamincorporatedhas21700 shares issued and outstanding

Sissy Parham sole proprietor

net income report

December 32, 2015

Revenues:

Unearned revenue: 50000

Services provided to customers: 73000

Accounts receivable: 3500

Common stock: 21000

Loan from bank: 17500

Total revenues

Expenses

Payments on long-term debt:40000

Operating expenses: 25000

Dividends:5000

Equipment purc:19000hases

Income tax payable:2400

Income tax expense:3600

Total expenses: 96000

Net income: 69000

Require: prepare an income statement in proper form

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