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	$	34,000
Cost of goods sold		221,000
Depreciation expense		32,000
Interest expense		6,000
Interest revenue			$	42,000
Loss on closing of branch as part of reorganization		119,000
Professional fees		81,000
Rent expense		26,000
Revenues				537,000
Salaries expense		80,000

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.)