The adjusted trial balance for Tom's Wiring at December 31, 2021, is presented below:?DebitCreditCash$ 62,000?Supplies45,000?Accounts Payable?$ 2,000Salaries Payable?4,000Common Stock?40,000Retained Earnings?32,000Service Revenue?210,000Salaries Expense140,000?Advertising Expense23,000?Rent Expense18,000_______Totals$288,000$288,000Prepare an income statement for Tom's Wiring for the year ended December 31, 2021:
What will be an ideal response?
| Tom's Wiring |
| Income Statement |
| For the year ended December 31, 2021 |
| Service revenue | ? | $210,000 |
| Salaries Expense | 140,000 | ? |
| Advertising Expense | 23,000 | ? |
| Rent Expense | 18,000 | ? |
| Total Expenses | ? | 181,000 |
| Net income | ? | $29,000 |
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