Prepare an income statement for the month ending April 30, 2004. 1 answer below »

After its first month of operations, the following amounts were taken from the accounting records of Mata Hari Realty Inc. as of April 30, 2004. Mata Hari Realty uses the cash basis of accounting.

Capital stock

$ 5,000

Notes payable

$15,000

Cash

10,750

Rent expense

3,000

Dividends

2,000

Retained earnings

0

Interest expense

1,000

Salaries expense

4,500

Land

18,500

Sales commissions

24,750

Miscellaneous expense

1,250

Utilities expense

3,750

Prepare an income statement for the month ending April 30, 2004.

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