Use the Following Information to Prepare an Income Statement for Penelope

Essay

Use the following information to prepare an income statement for Penelope Company for the period ending December 31,2015.All transactions were for cash.Precede the amount with a minus sign if the transaction reduces that section of the income statement.
A)Received revenue from services provided to customers,$30,500.
B)Paid $19,000 cash for land.
C)Issued $16,000 of common stock.
D)Paid dividends to stockholders,$3,000.
E)Paid operating expenses,$25,400.