Prepare an Income Statement for Pet Sitters,Inc

question 107

Essay

Prepare an income statement for Pet Sitters,Inc.,using the following data for the year ending December 31,2007.Show proper order of accounts and operating income and net income.
$$\begin{array}{l}\begin{array} { l r l r } \text { Income Tax Expense } & \$ 637,900 & \text { Sales Revenue } & \$ 8,964,500 \\\text { Wages Expense } & 5,986,000 & \text { Amortization Expense } & 375,400 \\\text { Operating and Administrative } & 531,800 & \text { Interest Expense } & 268,400\end{array}\\\text { Expense }\end{array}$$

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A scenario in game theory where two individuals acting in their self-interest do not result in the optimal outcome for either party.

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