The adjusted trial balance of Bramble Corp. at December 31, 2019, includes the following accounts: Common Stock $16,700
Dividends $7,300
Service Revenue $37,900
Salaries and Wages Expense $16,000
Insurance Expense $2,900
Rent Expense $3,400
Supplies Expense $2,500
Depreciation Expense $1,700

Required:
Prepare an income statement for the year.

$11,400

Explanation:

                       Income Statement

         For the year ended December 31, 2019

Particulars                                                Amount

Revenues

Service revenue                                       $37,900

Expense

Salaries & wages expense       $16,000

Insurance expense                   $2,900

Rent expense                            $3,400  

Supplies expense                     $2,500

Depreciation expense              $1,700

Total expenses                                         $26,500

Net income (loss)                                     $11,400