See photo for proper layout of the income statement.
Based on the following Trial Balance and Statement of Owners Equity:
a Prepare a single step Income Statement with EPS for December
Income Tax rate is
Tudhope Plumbing Inc.
Trial Balance
December
Debit Credit
Cash $
Accounts receivable
Office supplies
Prepaid insurance
Equipment
Accum. Amort. equipment $
Accounts payable
Unearned service revenue
Salary payable
Shareholders Equity
Operations:
Operating Service revenue
Salary expense
Advertising expense
Utilities expense
Miscellaneous expense
Supplies expense
Insurance expense
Amort. expenseequipment
Discontinued Operations:
Gain on Sale of Equipment
Net Loss
Total $ $
Tudhope PlumbingInc.
Statement of Shareholders Equity
December
Preferred shares, $ cumulative,
shares issued and outstanding $
Common shares, shares issued
Retained earnings
Total shareholders' equity $
