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The following selected information is taken from the

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The following selected information is taken from the records of Beckstrom Corporation.

Accounts payable$ 35,000

Accounts receivable65,000

Advertising expense15,000

Cash19,500

Supplies expense46,000

Rent expense10,000

Utilities expense3,000

Income taxes (30% of income before taxes)?

Miscellaneous expense4,400

Owners'equity140,000

Salaries expense61,000

Fees (revenues)384,000

Prepare an income statement for the year ended December 31, 2006. (Assume that 7,500 shares of stock are outstanding.)

Reference no: EM13566721

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