Unifying Concepts: The Income Statement From the following information, prepare an income statement for Moriancumer, Inc., for the year ended December 31, 2009. (Hint: Net income is $98,500.) Assume that there are 15,000 shares of capital stock outstanding.

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Gross Sales Revenue Income Taxes Cost of Goods Sold Sales Salaries Expense Rent Expense (Selling) Payroll Tax Expense (Selling) $4,230,000 99,000 3,116,000 350,000 16,000 4,900 Entertainment Expense (Selling) 1,500 Miscellaneous Selling Expenses Miscellaneous General and Administrative Expenses Automobile Expense (Selling) 6,300 5,400 3,500 Insurance Expense (General and Administrative) 700 Interest Expense 39,000 Interest Revenue 2,000 Sales Returns 8,000 Advertising and Promotion Expense 204,000 Insurance Expense (Selling) 17,000 Delivery Expense (Selling) 3,100 Office Supplies Expense (General and Administrative) 8,000 Utilities Expense (General and Administrative) 1,100 Administrative Salaries Expense 200,000 Fire Loss (net of tax) 50,000