At the beginning of September, Alexander Parker started Parker Investment Services, a firm that offers advice about investing and managing money. On September 30, the accounting records of the business showed the following information. Prepare an income statement for the month of September 2010.

Using the items listed.

Cash $32,100 Fees Income $72,800
Accounts Receivable $ 3,000 Advertising Expense 5,500
Office Supplies 2,400 Salaries Expense 15,000
Office Equipment 36,500 Telephone Expense 700
Accounts Payable 4,700 Withdrawals 8,000
Alexander Parker, Capital,
September 1,2010 25,700

Your income statement will include only the following accounts:
Income and expenses

Income - expenses = Net income