The assets and liabilities of Rocky's Day Spa at December 31 and its expenses for the year are listed below. The capital of the owner was $68,000 at January 1. The owner invested an additional $10,000 during the year. Net income for the year is $45,625.? Accounts payable $ 4 , 375 Spa operating expense $ 23 , 760 Accounts receivable 8 , 490 Office expense 2 , 470 Cash 13 , 980 Spa supplies 9 , 230 Fees earned ? ? ? Wages expense 26 , 580 Spa furniture and equipment 56 , 000 Drawing 38 , 170 Computers 2 , 130 \begin{array} { | l | r | l | r | } \hline ext { Accounts payable } & \$ 4,375 & ext { Spa operating expense } & \$ 23,760 \\hline ext { Accounts receivable } & 8,490 & ext { Office expense } & 2,470 \\hline ext { Cash } & 13,980 & ext { Spa supplies } & 9,230 \\hline ext { Fees earned } & ? ? ? & ext { Wages expense } & 26,580 \\hline ext { Spa furniture and equipment } & 56,000 & ext { Drawing } & 38,170 \\hline ext { Computers } & 2,130 & & \\hline\end{array} Accounts payable Accounts receivable Cash Fees earned Spa furniture and equipment Computers $4 , 375 8 , 490 13 , 980 ??? 56 , 000 2 , 130 Spa operating expense Office expense Spa supplies Wages expense Drawing $23 , 760 2 , 470 9 , 230 26 , 580 38 , 170 Prepare an income statement for the current year ended December 31.

Question

The assets and liabilities of Rocky's Day Spa at December 31 and its expenses for the year are listed below. The capital of the owner was $68,000 at January 1. The owner invested an additional $10,000 during the year. Net income for the year is $45,625.?    Accounts payable  $ 4 , 375  Spa operating expense  $ 23 , 760  Accounts receivable  8 , 490  Office expense  2 , 470  Cash  13 , 980  Spa supplies  9 , 230  Fees earned  ? ? ?  Wages expense  26 , 580  Spa furniture and equipment  56 , 000  Drawing  38 , 170  Computers  2 , 130 \begin{array} { | l | r | l | r | } \hline 	ext { Accounts payable }  &  \$ 4,375  &  	ext { Spa operating expense }  &  \$ 23,760 \\hline 	ext { Accounts receivable }  &  8,490  &  	ext { Office expense }  &  2,470 \\hline 	ext { Cash }  &  13,980  &  	ext { Spa supplies }  &  9,230 \\hline 	ext { Fees earned }  &  ? ? ?  &  	ext { Wages expense }  &  26,580 \\hline 	ext { Spa furniture and equipment }  &  56,000  &  	ext { Drawing }  &  38,170 \\hline 	ext { Computers }  &  2,130  &   &  \\hline\end{array}  Accounts payable   Accounts receivable   Cash   Fees earned   Spa furniture and equipment   Computers  ​ $4 , 375 8 , 490 13 , 980 ??? 56 , 000 2 , 130 ​  Spa operating expense   Office expense   Spa supplies   Wages expense   Drawing  ​ $23 , 760 2 , 470 9 , 230 26 , 580 38 , 170 ​ ​   Prepare an income statement for the current year ended December 31.

Yesenia Ramirez · Accepted Answer

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