The Following Revenue and Expense Account Balances Were Taken from the Income

Essay

The following revenue and expense account balances were taken from the Income Statement columns of the work sheet for Fraser Services Co. for December 31:
$$\begin{array} { l l } \text { Depreciation Expense } & \$ 4,950 \\\text { Insurance Expense } & 2,900 \\\text { Miscellaneous Expense } & 1,200 \\\text { Rent Expense } & 24,000 \\\text { Service Revenue } & 92,500 \\\text { Supplies Expense } & 3,150 \\\text { Utilities Expense } & 5,000 \\\text { Wages Expense } & 63,750\end{array}$$ Prepare an income statement.