Prepare the income statement of Centerpiece Arrangements for the year ended December 31, 2024.

Centerpiece Arrangements has just completed operations for the year ended December 31, 2024. This is the third year of operations for the company. The following data have been assembled for the business.

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Insurance Expense Service Revenue Utilities Expense Rent Expense Right, Capital, Jan. 1, 2024 Cash Owner contribution during the year $ 4,500 70,000 1,400 16,000 9,000 7,200 5,100 Salaries Expense Accounts Payable Office Supplies Right, Withdrawals Accounts Receivable Equipment $ 46,000 17,600 1,700 4,800 8,000 12,100