A Corporation is currently going through a Chapter 11 bankruptcy reorganization. The company has the following account balances for the current year.

	Debit		Credit
Advertising expense	$	47,000
Cost of goods sold		234,000
Depreciation expense		45,000
Interest expense		3,000
Interest revenue			$	35,000
Loss on closing of branch due to reorganization		132,000
Professional fees		94,000
Rent expense		39,000
Revenues				628,000
Salaries expense		93,000

Prepare an income statement for this organization. The effective tax rate is 30 percent (realization of any tax benefits is anticipated)