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Prepare income statements

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Reference no: EM132480023

Question 1: Prepare income statements

Part One: In 2015, Patsy Jackson opened Patsy's Posies, a small retail shop selling ?oral arrangements. On December 31, 2016, her accounting records show the following:

Sales revenue                                 $53,000

Utilities for shop                              $ 1,100

Inventory on December 31, 2016        $ 9,100

Inventory on January 1, 2016           $12,000

Rent for shop                              $ 4,600

Reference no: EM132480023

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