As of December 31, 2017, Armani Companys financial records show the following items and amounts.

Cash		$	11,500
Accounts receivable			10,500
Supplies			7,500
Equipment			6,500
Accounts payable			16,500
Common stock			12,000
Retained earnings, Dec. 31, 2016			5,500
Retained earnings, Dec. 31, 2017			7,500
Dividends			14,500
Consulting revenue			36,000
Rental revenue			25,000
Salaries expense			21,500
Rent expense			13,500
Selling and administrative expenses			9,500

Required: Prepare the 2017 year-end income statement for Armani Company.