Elegant Arrangements Corporation has just completed operations for the year ended December 31, 2012. This is the third year of operations for the company. As the soleshareholder, you want to know how well the business performed during the year. To address this question, you have assembled the following data:

Requirement
1. Prepare the income statement of Elegant Arrangements Corporation for the year ended December 31,2012.

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$ 4,000 Salary expense Accounts payable Supplics Dividends Insurance expense Scrvice revenuc Supplics expense Rent expense $42,000 6,800 2,100 3,900 74,000 1,100 13,000