revenue-20,000

rent ex-3000

salarie ex-4,000

utilities ex-2,000

total earning -11,000

2 Ray lantin single-step income statement

For year: 12/31/2020

Revenue:

Service income:2.000.00

Expense:

Cost of service: 1,050,000,00

Administrative salaries:280,000,00

Advertising expense:70,000

Utilities expense:60,000

Transportation expense :9,000

Bad debts expense:5,000

Depreciation expense:6,000

Rent expense:60,000

Total:1,540,00

Net income:460,000

2,000,000 200,000

3 I can use this knowdge in my everyday life by using it to manage my income