Reference no: EM132536883

QED Electronics Company had the following transaction during April while conducting its television and stereo repair business.

1. A New repair truck was purchased for $19,000
2. Parts with a cost of $1600 were received and used during April
3. Service revenue for the month was $33,400 but only $20,500 was cash sales. Typically only 95% of sales on account are realized.
4. Interest expense on loans outstanding was $880.
5. Wage Costs for the month totaled $10,000; however, $100 of this had not yet been paid to the employees.
6. Parts inventory from the beginning of the month was depleted by $2100.
7. Utility bills totaling $1500 were paid, $700 of this amount was associated with March's operations.
8. Depreciation expense was $2700
9. Selling Expenses were $1900
10. A provision for income taxes was established at $2800, or which $2600 had been paid to the federal government.
11. Administrative and miscellaneous expenses were recorded at $4700

Required:

Question 1: Provide an Example of a detailed April income statement