Ask Question
1 July, 13:12

For the fiscal year 2019, your company has total revenues of $250,000 and total expenses of $213,000. Assets had a book value of $750,000, Liabilities had a value of $225,000, and dividends paid to shareholders were $50,000.

Create an Income statement below.

+3
Answers (1)
  1. 1 July, 14:22
    0
    Income Statement for the fiscal year ended 2019

    Revenue $250,000

    Expenses $213,000

    Net Income $37,000

    Explanation:

    The income statement for the year ended 2019 is made by deducting all the total expenses from revenue generated to find net income. The revenue is provided in the question which is $250,000. Total expenses are then presented in the income statement the amount is $213,000, this figure is deducted from revenue which derives the net income figure of $37,000.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “For the fiscal year 2019, your company has total revenues of $250,000 and total expenses of $213,000. Assets had a book value of $750,000, ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers