Income Statement Preparation
The following information is taken from the records of Wadley's Car Wash for the year ended
December 31, 2012.
Income taxes . . . . . . . . . . . . . $ 45,000
Service revenues. . . . . . . . . . . 210,000
Rent expense . . . . . . . . . . . . . 6,000
Salaries expense. . . . . . . . . . . 41,000
Required:
Prepare an income statement for Wadley's Car Wash for the year ended December 31, 2012. (As-sume that 3,000 shares of stock are outstanding.)