SE3-12. Calculate net income. (LO 1, 4)
Suppose a company had the following accounts and balances at year-end:
| Service revenue | $7,400 |
| Interest revenue | $2,200 |
| Unearned revenue | $3,250 |
| Operating expenses | $1,500 |
| Prepaid rent | $1,030 |
Prepare the income statement for the year.
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