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

	Debit		Credit
Advertising expense	$	39,000
Cost of goods sold		226,000
Depreciation expense		37,000
Interest expense		3,000
Interest revenue			$	37,000
Loss on closing of branch		124,000
Professional fees		86,000
Rent expense		31,000
Revenues				572,000
Salaries expense		85,000

Prepare an income statement for this organization. The effective tax rate is 30 percent (realization of any tax benefits is anticipated). (Negative amounts under "Reorganization items" should be indicated by a minus sign.)