PE 1-4A Income statement

The revenues and expenses of Sunset Travel Service for the year ended April 30, 2014, are listed below.


Fees earned $1,673,000
Office expense 488,000
Miscellaneous expense 34,000
Wages expense 660,000



Prepare an income statement for the current year ended April 30, 2014.


Answer:

SUNSET TRAVEL SERVICE
Income Statement
For the Year Ended April 30, 2014
Fees earned $1,673,000
Expenses:
Wages expense $660,000
Office expense 488,000
Miscellaneous expense 34,000
Total expenses 1,182,000
Net income $ 491,000