Reference no: EM132549089
Question - The following selected accounts and account balances were taken from the records of Nowell Company. Except as otherwise indicated, all balances are as of December 31, 2018, before the closing entries were recorded.
Consulting revenue $10,200
Cash 7,500
Cash received from common stock issued during 2017 3,100
Travel expense 450
Dividends 1,300
Cash flow from investing activities 2,800
Rent expense 1,300
Payment to reduce debt principal 24,900
Retained earnings, January 1, 2018 14,600
Salary expense 3,200
Cash flow from operating activities 2,350
Common stock, December 31, 2018 8,100
Other operating expenses 2,200
Required - Prepare the income statement Nowell would include in its 2018 annual report.