The Sky Blue Corporation has the following adjusted trial balance at December 31, 2009.
| Debit | Credit | |||
| Cash | $ | 1,790 | ||
| Accounts Receivable | 2,440 | |||
| Prepaid Insurance | 2,300 | |||
| Notes Receivable | 2,300 | |||
| Equipment | 13,200 | |||
| Accumulated Depreciation | $ | 400 | ||
| Accounts Payable | 1,200 | |||
| Accrued Liabilities Payable | 3,090 | |||
| Wages Payable | 1,170 | |||
| Income Taxes Payable | 2,100 | |||
| Unearned Rent Revenue | 790 | |||
| Contributed Capital | 2,500 | |||
| Retained Earnings | 1,400 | |||
| Dividends Declared | 170 | |||
| Sales Revenue | 41,120 | |||
| Rent Revenue | 360 | |||
| Wages Expense | 18,300 | |||
| Depreciation Expense | 400 | |||
| Utilities Expense | 310 | |||
| Insurance Expense | 220 | |||
| Rent Expense | 9,300 | |||
| Income Tax Expense | 3,400 | |||
| | | | | |
| Total | $ | 54,130 | $ | 54,130 |
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| Required: |
| Prepare an income statement for 2009. (Input all amounts as positive values. Omit the "$" sign in your response.) |
| SKY BLUE CORPORATION Income Statement For the Year Ended December 31, 2009 | |
| Revenues: | |
| Sales revenue | $ |
| Rent revenue | |
| | |
| Total Revenues | |
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| Expenses: | |
| Wages expense | |
| Rent expense | |
| Insurance expense | |
| Depreciation expense | |
| Utilities expense | |
| Income tax expense | |
| | |
| Total Expenses | |
| | |
| Net income | $ |
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