As you create the Income Statement, keep in mind that what an income statement is supposed to report

Subject:MathPrice:2.84 Bought7

Share With

As you create the Income Statement, keep in mind that what an income statement is supposed to report . . . only income and expenses for the month. Certain items in this scenario should be omitted.  Use Google Sheets to complete the assignment.

Scenario: Mary is a senior in high school who utilizes the Co-op program. She works 34 hours a week and her net pay $9.12 per hour. During the month of October, she works four weeks. Fortunately, for Mary her birthday is on Halloween and she receives several birthday cards. Her grandparents on both sides of the family send her checks for $100. As it is her 18th birthday, her aunt and uncle gave her a bond at the bank worth $2,000. In addition, her pen pal from Spain sent her 15 Euros or $18 U.S. dollars.

Over the course of her childhood, she continually helps at the house, paying half of the electric bill. The full bill in October is $93.46. Mary also pays for trash pickup, which is $10 per month. Occasionally, Mary receives an opportunity to babysit the neighbor's kids. In October, Mary receives $50 for two nights of babysitting. Recently Mary joined YoungLife and is attending Windy Gap this month, and that will cost $175. While on the trip to Windy Gap Mary shows off her iPhone10 (valued at $500) as well as her Macbook air (valued at $600). One thing that Mary is not proud of is her recent speeding ticket and visit to driving school. The ticket will end up costing $150 as she was going 45 mph in a 30 mph with her 2015 Toyota Camry (valued at $16,000). She plans to pay the ticket this month. Mary obtained a loan to pay for the car. She still owes $17,000 on the loan. Mary pays $400 per month to pay off her car. Recently, Mary found a sale at Hollister. She could not resist and purchased $230 in clothes. All of which she put on a credit card and plans to pay the minimum monthly payment. The minimum payment on her card is $25.