Addison Corporation is currently going through a Chapter 11 bankruptcy reorganization. The company has the following account balances for the current year. Credit $ Debit 42,000 229,000 40,000 6,000 $ 40,000 Advertising expense Cost of goods sold Depreciation expense Interest expense Interest revenue Loss on closing of branch as part of reorganization Professional fees Rent expense Revenues Salaries expense 127,000 89,000 34.000 593,000 88,000 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. All other amounts should be entered as positive.) 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. All other amounts should be entered as positive.) ADDISON CORPORATION Income Statement Costs and expenses W 0 $ 0 Earnings before reorganization items and tax effects Reorganization items: 0 $ 0 $ 0