Following Are the Financial Statement Data for Degen Temporary Services

question 62

Essay

Following are the financial statement data for Degen Temporary Services at December 31, 2016.Prepare Degen's income statement. $\begin{array}{lr}\text { Accounts Payable } & \$ 850 \\\text { Accounts Receivable } & 780 \\\text { Cash } & 425 \\\text { Common Stock } & 600 \\\text { Dividends } & 200 \\\text { Insurance Expense } & 75 \\\text { Office Equipment } & 1,500 \\\text { Retained Earnings, January 1, 2016 } & 370 \\\text { Salaries Expense } & 525 \\\text { Notes Payable } & 40 \\\text { Service Revenue } & 1,750 \\\text { Inventory } & 35 \\\text { Supplies Expense } & 50\end{array}$ ? $$\begin{array}{c}\text { Degen Temporary Services } \\\text { Income Statement }\\\text { For the Year Ended December 31, } 2016\\{ \begin{array} { | l | l | l | } \hline \quad\quad\quad\quad\quad\quad\quad& \quad \quad \quad \quad \quad \quad & \quad \quad \quad \quad \quad \quad \\\hline & & \\\hline & & \\\hline & & \\\hline & & \\\hline & & \\\hline & & \\\hline & & \\\hline & & \\\hline & & \\\hline & & \\\hline & & \\\hline\end{array} }\end{array}$$

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Definitions:

Anticipated Objections

Objections a salesperson expects to hear from prospects and prepares responses for in advance to smoothly handle resistance.

Energy Efficiency

The goal of using less energy to provide the same level of energy service, reducing energy costs and environmental impact.

Competitor's Carts

Analysis or tracking of competitors' sales, offerings, or strategies.

Hopeless Objection

A customer's concern or refusal that is perceived as insurmountable by the salesperson, making the sale unlikely.