20. In addition to the account balances in the previous problem, Scott Company recorded the following summary transactions for the year ending December 31, 2006.

Category Amount Administrative expenses $30,000 Factory depreciation $30,000 Direct labor charges $70,000 Factory overhead $35,000 General interest payments $40,000 Raw material expenses $90,000 Sales $400,000 Taxes paid $20,000 Construct an income statement for Scott Company for the period 1/1/2006 to 12/31/2006.