- Brepare an income statement. Prairie company is owned and operated by Nadasha woods. In alphabetical order below are the financial statement accounts for Praisic company using the appropriate accounts, prepare an income statement for the month ended october 31,2024. A ccounts payable 90,000 N.wood, capital, october 1,2024 36,000 A ccounts receivable 77,500 N. woods, drawing ( )^3 Advertising expense 3,600 Ret ecpense Cash 59,300 seovice revenue 2,600 23,00

To prepare an income statement for Prairie Company for the month ended October 31, 2024, we need to focus on the revenue and expense accounts. The income statement will show the company's financial performance over this period by detailing its revenues and expenses.<br /><br />Given the information provided, let's identify the relevant accounts:<br /><br />1. **Service Revenue**: $23,000<br />2. **Advertising Expense**: $3,600<br />3. **Rent Expense**: $2,600<br /><br />Now, let's prepare the income statement:<br /><br />---<br /><br />**Prairie Company** <br />**Income Statement** <br />**For the Month Ended October 31, 2024**<br /><br />**Revenues:** <br />- Service Revenue: $23,000 <br /><br />**Total Revenues:** $23,000 <br /><br />**Expenses:** <br />- Advertising Expense: $3,600 <br />- Rent Expense: $2,600 <br /><br />**Total Expenses:** $6,200 <br /><br />**Net Income:** <br />\[ \text{Net Income} = \text{Total Revenues} - \text{Total Expenses} \] <br />\[ \text{Net Income} = \$23,000 - \$6,200 = \$16,800 \]<br /><br />**Net Income:** $16,800 <br /><br />---<br /><br />This income statement reflects the revenues earned and expenses incurred by Prairie Company during the specified period, resulting in a net income of $16,800.