Analyze the following transactions for Kappa Ltd. for the month of July:

• Sales Revenue: $150,000
• Purchases: $60,000
• Rent Expense: $12,000
• Utilities Expense: $8,000
• Salaries Expense: $30,000
• Depreciation Expense: $6,000

Calculate Kappa Ltd.'s Net Income and prepare an Income Statement for the month of July.