Instructions Labels and Amount Descriptions Income Statement
Instructions
A-One Travel Service is owned and operated by Kate Duffner. The revenues and expenses of A-One Travel Service for the year ended August 31, 2016, follow
Accounts (revenue and expense items)
Fees earned $1,485,000
Office expense 325,000
Miscellaneous expense 26,000
Wages expense 875,000
Required:
Prepare an income statement for the year ended August 31, 2016