Addison 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	$	38,000
Cost of goods sold		225,000
Depreciation expense		36,000
Interest expense		2,000
Interest revenue			$	36,000
Loss on closing of branch as part of reorganization		123,000
Professional fees		85,000
Rent expense		30,000
Revenues				565,000
Salaries expense		84,000

Prepare an income statement for this organization. The effective tax rate is 20 percent (realization of any tax benefits is anticipated). (Negative amounts under "Reorganization items" should be indicated by a minus sign. All other amounts should be entered as positive.)