Following are summarized transaction data for Luxury Apartments Inc. for the yea

Following are summarized transaction data for Luxury Apartments Inc. for the year ending 2010 June 30. The company owns and operates an apartment building.Rent revenue from building ownedUSD 150000Building repairs2870Building cleaning labor cost3185Property taxes on the building4000Insurance on the building1225Commissions paid to rental agent5000Legal and accounting fees (for preparation of tenant leases)1260Utilities expense8225Cost of new awnings (installed on June 30 will last 10 years)5000Of the USD 150000 rent revenue USD 5000 was not collected in cash until 2010 July 5. Prepare an income statement for the year ended 2010 June 30.