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This information relates to Oriole Company for the year 2022. Retained earnings, January 1, 2022 $73,700 Advertising expense 1,980 Dividends 6,600 Rent expense 11,400 Service revenue 63,800 Utilities expense 2,700 Salaries and wages expense 33,000Prepare an income statement for the year ending December 31.

Answer :

mltn1980

Answer:

  • Income Statement 2022: $14.720
  • Retained Earnings Dec 31 2022 : $73.700 - $6.600 + $14.720 = $81.820
  • Dividens : $6.600

Explanation:

Income Statement December 31 2022.

  • Service Revenue $63,800
  • Salaries and Wages Expenses - $33.000
  • Advertising Expenses - $1.980
  • Rent Expenses - $11.400
  • Utilities Expenses - $2.700
  • ====================================
  • TOTAL      =            $14.720

  • Dividens : $6.600
  • Retained Earnings : $73.700 - $6.600 + $14.720 = $81.820

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