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Creation of an Income Statement

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I am having trouble preparing this income statement can you please sow me how to do it and explain why it is done this way?

Problem 2-5 Income Statement Preparation

The following information is taken from the records of Hill, Dunn, & Associates for the year ended December 31, 2006. P.A.S.S. Power Accounting System Software
Income taxes $ 10,800
Service revenues 150,000
Rent expense 5,500
Salaries expense 35,000
Miscellaneous expense 380
Utilities expense 1,230
Administrative expense 12,300

Required:
Prepare an income statement for Hill, Dunn, & Associates for the year ended December 31, 2006. (Assume that 4,000 shares of stock are outstanding.)

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Solution Summary

This Solution provides a completed income statement for the given organization.

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