Star Health, Inc is a fitness center in Oklahoma City
In October, the company earned
$550,000 in revenues and incurred the following operating costs from 340 customers:
Manager's salary $50,000
Gym Rent 60,000
Depreciation Expense-Equipment 25,000
Office Supplies Expense 30,000
Utilities Expense 89,700
Trainer's Salary 25,000
Required: Prepare Star Health's income statement for the month of October.
What will be an ideal response
Revenue
Service Revenue $550,000
Expenses
Manager's salary $50,000
Gym Rent 60,000
Depreciation Expense—Equipment 25,000
Office Supplies 30,000
Utilities Expense 89,700
Trainer's Salary 25,000
Total Expenses 279,700
Operating Income $270,300
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