Lawson Consulting, which began operations on December 1, had the following accounts and amounts on December 31. The I. Lawson, Capital account balance at December 1 was $0 and the owner invested...

Extracted text: Lawson Consulting, which began operations on December 1, had the following accounts and amounts on December 31. The I. Lawson, Capital account balance at December 1 was $0 and the owner invested $15,050 cash in the company on December 2. On December 31, the company's accounts and amounts for the month of December are shown in the table below: Cash Accounts receivable Equipment Accounts payable I. Lawson, Capital $ 7,500 I. Lawson, Withdrawals 5,000 Services revenue 7,000 Rent expense 3,450 Wages expense 15,050 $ 2,000 13,500 2,500 8,000 Use the above information to prepare a December income statement for the business. LAWSON CONSULTING Income Statement For Month Ended December 31 Revenues: Services revenue 2$ Expenses: Rent expense Wages expense Net income