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Prepare single-step Income Statement

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Question - Below is a list of accounts of T. Toon Law Firm. Prepare single-step income statement for the year ended December 31, 2017

Legal Fees P828,000

Salaries and wages 158,400

Rent Expense 128,000

Utilities Expense 89,960

Supplies Expense 3,984

Interest Expense 18,800

Dep. Expense-Equipment 12,000

Dep. Expense-Furnitiure 5,000

Dividends Income 16,000

Gain on Sale of Equipment 4,000

Required - Prepare single-step Income Statement?

Reference no: EM132616183

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