The account balances of Strength in Numbers at June 30, 2025, follow: View the account balances. Requirements 1. Prepare the income statement for Strength in Numbers for the month ending June 30, 2025. 2. What does the income statement report? Requirement 1. Prepare the income statement for Strength in Numbers for the month ending June 30, 2025. (If an input field is not used in the table leave the field empty; do not select a label or enter a zero.) Net Income Requirement 2. What does the income statement report? The income statement reports Account Balances Equipment $ 21,700 Service Revenue $ 14,000 Supplies 1,200 Accounts Receivable 7,000 Notes Payable 7,500 Accounts Payable 3,000 Rent Expense 500 Serna, Capital, June 1, 2025 2,200 Cash 2,100 Salaries Expense 2,200 Serna, Withdrawals 5,500

The account balances of Strength in Numbers at June 30, 2025, follow: View the account balances. Requirements 1. Prepare the income statement for Strength in Numbers for the month ending June 30, 2025. 2. What does the income statement report? Requirement 1. Prepare the income statement for Strength in Numbers for the month ending June 30, 2025. (If an input field is not used in the table leave the field empty; do not select a label or enter a zero.) Net Income Requirement 2. What does the income statement report? The income statement reports Account Balances Equipment $ 21,700 Service Revenue $ 14,000 Supplies 1,200 Accounts Receivable 7,000 Notes Payable 7,500 Accounts Payable 3,000 Rent Expense 500 Serna, Capital, June 1, 2025 2,200 Cash 2,100 Salaries Expense 2,200 Serna, Withdrawals 5,500

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter2: Financial Statements And The Annual Report

Section: Chapter Questions

Problem 2.7E

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