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Question - The revenues and expenses of Paradise Travel Service for the year ended May 31, 20Y6, follow:
Accounts (revenue and expense items)
Fees earned $749,000Office
Expense 308,000
Miscellaneous expense 11,000
Wages expense 472,000
Prepare an income statement for the year ended May 31, 20Y6. Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. A colon (:) will automatically appear if it is required. If a net loss is incurred, enter that amount as a negative number using a minus sign.
Financial Statement Analysis and Preparation
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