Question

On September 1, 2011, Fast Track, Inc. was started with $30,000 invested by the owners as contributed capital. On September 30, 2011, the accounting records contained the following amounts:
Accounts Payable $2,200 Dividends Declared and paid $2,300
Accounts Receivable $2,200 Office Equipment $25,000
Accumulated Depreciation $500 Office Supplies Inventory $1,750
Cash $10,000 Office Supplies Expense $600
Consulting Fees Revenue $19,200 Rent Expense $2,400
Contributed Capital $30,000 Salary Expense $6,900
Depreciation Expense $500 Telephone Expense $250

Prepare an income statement, for September for the first month of Fast Track's Operation, Ignore income taxes