Home Realty Inc. has been operating for three years and is owned by three investors. J. Doe owns 60 percent of the 9,000 shares that are outstanding and is the managing executive in charge. On December 31, 2017, the following financial items for the entire year- were determined: commissions earned and collected in cash, $150,000; rental service fees earned and collected, $15,000; expenses paid including salaries, $62,000; commissions, $35,000; payroll taxes, $2,500; rent, $2,200; utilities, $1,600; promotion and advertising, $8,000; income taxes, $18,500; and miscellaneous expenses, $500. At December 31, $16,000 of commissions were earned but not collected, and the rent for December ($200) was not paid. Complete the following statement of earnings:

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Revenues 2$ Commissions Rental service fees Total revenues Expenses Salaries Commission Payroll tax Rent Utilities Promotion and advertising Miscellaneous Total expenses (excluding income taxes) Earnings before income taxes Income tax expense Net earnings %24