Prepare an income statement from the following: Accounts Receivable $39120 In

Prepare an income statement from the following:

Accounts Receivable $39120 Income Tax $32700

Accumulated Depreciation $60540 Prepaid Insurance $4680

Administrative Expenses $90000 Note Payable $77750

Retained Earnings $85000 Salaries Payable $3060

Cost of Merchandise Sold $550000 Sales (net) $950000

Common Stock $65000 Selling Expenses $102000

Interest Revenue $10000 Supplies $3125

****Please show work; for instance if one of the items on the statement is operating profits please include which account it includes. For example Operating
profits (Prepaid Insurance) and so forth. I want to make sure that I understand where you are getting the numbers from****