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On December 31, Hawkins records show the following accounts.

Cash $5,100 Accounts Receivable 600
Supplies 2,000 Equipment 14,000
Accounts Payable 6,000 Common stock 6,900
Retained earnings, December 1 4,000 Dividends 1,000
Services Revenue 16,000 Wages Expense 8,000
Rent Expense 1,500 Utilities Expense 700

Required:
Use the above information to prepare a December income statement for Hawkins

Respuesta :

The preparation of the income statement is as follows:

Income statement

Service revenue $16,000

Less:

Wages Expense $8,000

Rent Expense $1,500

Utilities Expense $700

Total expenses $10,200

Net income $5,800

The following information should be considered:

  • The income statement is the statement that records the revenues and expenses.
  • Either it has a net income or net loss.

Therefore we can conclude that the net income is $5,800

Learn more about the net income here: brainly.com/question/15570931

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