Selected accounts from Fair Trader Co.’s adjusted trial balance for the year ended December 31 follow. Prepare its income statement.

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Factoring fees $ 300 Interest revenue $ 3,000 .... .... ...... Insurance expense. 4,000 Salaries expense. 22,000 Sales .. 50,000 Supplies expense 200 Rent expense 15,000 Bad debt expense.. 1,000