Use the following to prepare an income statement for Excel Technology, Inc., for the year ended June 30, 2011 — Service revenues 675

Use the following to prepare an income statement for Excel Technology, Inc., for the year ended June 30, 2011:

Service revenues ……………… $62,675

Rent expense …………………… 12,000

Insurance expense ………………… 6,550

Salary expenses ………………… 18,625

Administrative expenses …………. 5,720

SOLUTION

Excel Technology, Inc.

Income Statement