Presented Below Is Selected Financial Information for Stanley's Bike Shop

Essay

Presented below is selected financial information for Stanley's Bike Shop.Using the appropriate information,prepare the income statement for 2011.
$$\begin{array} { | l | r | } \hline \text { Total Assets at December 31, 2011 } & \$ 91,000 \\\hline 2011 \text { Expenses } & 38,000 \\\hline \text { Total Equity at December } 31,2010 & 48,000 \\\hline \text { Total Liabilities at December 31,2010 } & 35,000 \\\hline 2011 \text { Revenues } & 46,000 \\\hline\end{array}$$