Prepare an income statement for the year ending December 31, 2022. (Enter loss using either a negative sign preceding the number eg. -45 or parentheses eg. (45).) WIШAM CO. Income Statement $4 %24 %24

Extracted text: Prepare an income statement for the year ending December 31, 2022. (Enter loss using either a negative sign preceding the number eg. -45 or parentheses eg. (45).) WIШAM CO. Income Statement $4 %24 %24


Extracted text: The adjusted trial balance of William Co. as of December 31, 2022, contains the following. William Co. Adjusted Trial Balance December 31, 2022 Debit Credit Cash $ 19,792 Accounts Receivable 7,240 Prepaid Rent 2,600 Equipment 18,370 Accumulated Depreciation-Equipment $ 5,215 Notes Payable 6,020 Accounts Payable 5,792 Share Capital-Ordinary 20,320 Retained Earnings 11,630 Dividends 3,320 Service Revenue 11,910 Salaries and Wages Expense 7,160 Share Capital-Ordinary 20,320 Retained Earnings 11,630 Dividends 3,320 Service Revenue 11,910 Salaries and Wages Expense 7,160 Rent Expense 2,234 Depreciation Expense 171 Interest Expense 109 Interest Payable 109 $ 60,996 $ 60,996