Prepare an income statement for the month of October

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Question - Teal Mountain Inc., a provider of consulting services, was founded on October 1, 2022. At the end of the first month of operations, the company decided to prepare an income statement, retained earnings statement, and balance sheet using the following information.

Accounts payable: $3,100

Supplies: $2,560

Interest expense: $360

Supplies expense: $510

Equipment (net): $48,000

Depreciation expense: $270

Salaries and wages expense: $3,100

Service revenue: $20,130

Bonds payable: $21,700

Salaries and wages payable: $570

Unearned service revenue: $4,070

Common stock: $10,600

Accounts receivable: $1,400

Interest playable: $130

Cash: $4,100

Required - Prepare an income statement for the month of October 2022?

Reference no: EM133014511

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