E1-12 The following information relates to Linda Stanley Co. for the year 2010.
Linda Stanley, Capital, January 1, 2010 $ 48,000 Advertising expense $ 1,800
Linda Stanley, Drawing during 2010 6,000 Rent expense 10,400
Service revenue 62,500 Utilities expense 3,100
Salaries expense 30,000
Instructions
After analyzing the data, prepare an income statement and an owner’s equity statement for the
year ending December 31, 2010
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