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Income Statement
The revenues and expenses of Sentinel Travel Service for the year ended August 31, 2019, follow:
Fees earned | $750,000 |
Office expense | 295,000 |
Miscellaneous expense | 12,000 |
Wages expense | 450,000 |
Prepare an income statement for the year ended August 31, 2019. A net loss should be entered as a negative amount.
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