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

Question

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

Quizplus · Accepted Answer

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

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