Question - On October 1, Natalie King organized Real Solutions, a new consulting firm. On October 31, the company's records show the following items and amounts.
Cash $ 2,000
Cash withdrawals by owner $ 3,360
Accounts receivable 13,000
Consulting fees earned 15,000
Office supplies 4,250
Rent expense 2,550
Land 36,000
Salaries expense 6,000
Office equipment 28,000
Telephone expense 660
Accounts payable 7,500
Miscellaneous expenses 680
Owner investments 74,000
Using the above information prepare an October income statement for the business.