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Baiman Corporation commences operations at the beginning of January. It provides its services on credit and bills its customers $40000 for January sales. Its employees also earn January wages of $12000 that are not paid until the first of February. Complete the following statements for the month end of January.
Income Statement
Sales $ __
Wage Expense $ __
Net Income (loss) $ __
Balance Sheet Cash $ __
Accounts Receivable $ __
Total Assets $ __
Wages Payable $ __
Retained Earnings $ __
Total Liabilities & Equity $ __

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ayokenny2001

What is income statement?  

An income statement is a financial statement that shows you the company's income and expenditures.

Income statement for the month ended January 31

Sales                        40,000

Wages expense      (12,000)

Net income (loss)    28,000

Balance sheet  as of January 31

Cash                                       0

Account receivable              40,000

Total assets                          40,000

Wages payable                      12,000

Retained earnings                 28,000

Total liabilities and equity  40,000

Learn more about income statement here : https://brainly.com/question/21851842

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