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After its first month of operations, the following amounts were taken from the accounting records of Mata Hari Realty Inc. as of April 30, 2004. Mata Hari Realty uses the cash basis of accounting.
Capital stock
$ 5,000
Notes payable
$15,000
Cash
10,750
Rent expense
3,000
Dividends
2,000
Retained earnings
0
Interest expense
1,000
Salaries expense
4,500
Land
18,500
Sales commissions
24,750
Miscellaneous expense
1,250
Utilities expense
3,750
Prepare an income statement for the month ending April 30, 2004.
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