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Income Statement PreparationThe following information is taken from the records of Wadley's Car Wash for the year endedDecember 31, 2012.Income taxes . . . . . . . . . . . . . $ 45,000Service revenues. . . . . . . . . . . 210,000Rent expense . . . . . . . . . . . . . 6,000Salaries expense. . . . . . . . . . . 41,000
Required:- Prepare an income statement for Wadley's Car Wash for the year ended December 31, 2012. (Assume that 3,000 shares of stock are outstanding.)
I am taking finance class. Our books is John C. Hull 2nd edition Risk Management and Financial Institutions. Our HW are from this book. I have four questions I need help with.
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