The following account balances were taken from the adjusted trial balance for Capstone Messenger Service, a delivery service firm, for the fiscal year ended April 30, 20Y7:

Depreciation Expense ................. $ 6,700 

Rent Expense .............................. $ 46,500

Fees Earned ................................. 522,000 

Salaries Expense ......................... 260,900

Insurance Expense ......................... 1,200 

Supplies Expense ............................ 2,500

Miscellaneous Expense .................. 7,400 

Utilities Expense ............................ 30,800

Prepare an income statement.