Question - The following is the Bravo Unlimited adjusted Trail Balance.
Bravo Unlimited Adjusted Trial Balance December 31, 2016
Account Title Debit Credit
Cash $88,450
Accounts Receivable 231,860
Supplies 17,255
Equipment 395,285
Accumulated Depreciation $224,260
Accounts Payable 72,555
Capital Stock 120,000
Retained Earnings 214,145
Service Revenue 892,105
Interest Income 2,500
Dividends 5,000
Rent Expense 58,700
Wages Expense 527,000
Supplies Expense 42,600
Utilities Expense 8,600
Depreciation Expense 150,815
Totals $1,525,565 $1,525,565
Use this information to prepare the Single-Step Income Statement for the fiscal year. There are additional lines in the formatted income statement form to allow for authorized alternate presentations.