Star Health,Inc.is a fitness center in Oklahoma City.In October,the company earned $550,000 in revenues and incurred the following operating costs from 340 customers:
$$\begin{array} { | l | r | }
\hline \text { Manager's salary } & \$ 50,000 \
\hline \text { Gym Rent } & 60,000 \
\hline \text { Depreciation Expense-Equipment } & 25,000 \
\hline \text { Office Supplies Expense } & 30,000 \
\hline \text { Utilities Expense } & 89,700 \
\hline \text { Trainer's Salary } & 25,000 \
\hline
\end{array}$$ Required: Prepare Star Health's income statement for the month of October.

Question

Star Health,Inc.is a fitness center in Oklahoma City.In October,the company earned $550,000 in revenues and incurred the following operating costs from 340 customers:
 $$\begin{array} { | l | r | } 
\hline \text { Manager's salary } & \$ 50,000 \
\hline \text { Gym Rent } & 60,000 \
\hline \text { Depreciation Expense-Equipment } & 25,000 \
\hline \text { Office Supplies Expense } & 30,000 \
\hline \text { Utilities Expense } & 89,700 \
\hline \text { Trainer's Salary } & 25,000 \
\hline
\end{array}$$ Required: Prepare Star Health's income statement for the month of October.

Quizplus · Accepted Answer

The Answer of Star Health,Inc.is a fitness center in Oklahoma City.In October,the company earned $550,000 in revenues and incurred the following operating costs from 340 customers:
 $$\begin{array} { | l | r | } 
\hline \text { Manager's salary } & \$ 50,000 \
\hline \text { Gym Rent } & 60,000 \
\hline \text { Depreciation Expense-Equipment } & 25,000 \
\hline \text { Office Supplies Expense } & 30,000 \
\hline \text { Utilities Expense } & 89,700 \
\hline \text { Trainer's Salary } & 25,000 \
\hline
\end{array}$$ Required: Prepare Star Health's income statement for the month of October.

Star Health,Inc Required: Prepare Star Health's Income Statement for the Month of Earned