1. James Fare is the owner of Express Plumbing. He has no employees and does all the work by himself. Below is a list of his revenue and expenses. Produce his income statement for the year ended December 31, 2019. Revenue Expenses Sales $ 58,600.00 Service $ 107,416.00 Advertising $ 1,150.50 Bank Interest Expense $ 1,750.00 $ 4,296.00 Notes: 1 Car Expense Petrol and Oil Expense Equipment for resale Miscellaneous Expense Telephone Expense Utilities Consumables for plumbing installations For example boilers, thermostats, shower heads, etc. 2 For example, copper pipes, hoses, electric wire, etc. $ 4,935.25 $21,300.00 $ 257.00 $ 1,200.00 $ 4,975.12 $9,500.00