Concept explainers
Problem 1-3A Preparing an income statement P2
As of December 31, 2019. Armani Company's financial records show the following items and amounts.
Cash...............
Supplies................
Equipment....................
Accounts payable....................
A Armani. Capital. Dec. 31.2018. A Armani. Capital. Dec. 31.2019.
$10.000 9.000 6.000 5,000 11,000 16,000 19,000
A. Armani, Withdrawals
Consulting revenue .................
Rental revenue................
Salaries expense................
Rent expense......................
Selling and administrative expenses...
$13,000 33.000 22.000 20.000 12.000 3.000
Required
Prepare the 2019 year-end income statement for Armani Company.
Check Net income, $15,000
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