[The following information applies to the questions displayed below.) Carmen Camry operates a consulting firm...
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[The following information applies to the questions displayed below.) Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the company's records show the following accounts and amounts for the month of August. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Dividends $ 25,310 Consulting fees earned 22,320 Rent expense 5,200 Salaries expense 43,970 Telephone expense 19,960 Miscellaneous expenses 10,700 Common stock 5,950 $ 26,960 9,500 5,560 820 470 101,400 Exercise 2-16 Preparing an income statement LO C3, P3 Use the above information to prepare an August income statement for the business. HELP TODAY Income Statement As of August 31 Assets: Cash Accounts receivable 0
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