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

Accounts payable........................................$35,000
Accounts receivable......................................65,000
Advertising expense.....................................15,000
Cash...........................................................19,500
Supplies expense.........................................46,000
Rent expense...............................................10,000
Utilities expense.............................................3,000
Income taxes (30% income before taxes).............?
Miscellaneous espense....................................4,400
Owner's Equity...........................................140,000
Salaries expense..........................................61,000
Fees (revenues).........................................384,000

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

Homework?

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Below is the policy, in case you did not read it.

Read this first: Expectations for the Homework Help board

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Do not simply retype or paste a question from your book or study material

We won't do your homework questions for you.
You were given the assignment for you to learn.

If you come up with your own answer and post it for us to critique that is within reason.

If you have some SPECIFIC questions that you couldn't find or didn't understand, we may help with that. But this is your assignment, so show us you have at least attempted to complete it on your own.

Thank you.

Homework?

Please consider my other responses to your questions. If you keep just copying and pasting your homework questions here, then you risk not being able to be on this site. I would hate to see that happen. I have already posted to you what the policies are here concerning asking homework questions. Please take them into consideration.

The choice is yours. Please make it one that will keep you on the site.

Thank you!

Below is the policy, in case you did not read it.

I have submitted how I have attempted to get the answer with no luck

Everyone here is volunteers who have other lives. You need to be patient and wait for someone to come along. Is that why you keep posting the same question over and over? That is only confusing people.

The policy is that we don't do your homework for you. That policy isn't going to change just because you submit your question 4 or 5 times. Did you read what Clough said about it?