At January 1 (beginning of its fiscal year), Conover, Inc., a financial services consulting firm, reported the following account balances (in thousands of dollars, except number of shares and par value per share): a. Received $11, 500 cash for consulting services rendered. b. Issued 10, 200 additional shares of common stock at a market price of $130 per share. c. Purchased $840 of equipment, paying 25 percent in cash and owing the rest on short-term note. d. Received $990 from clients for consulting services to be performed in the next year. e. Bought $670 of supplies on account. f. Incurred and paid $2, 100 in utilities for the current year. g. Consulted for clients in the current year for fees totaling $1, 820, due from clients in the next year. h. Received $4, 980 from clients paying on their accounts. i. Incurred $6, 410 in salaries in the current year, paying $5, 600 and owing the rest (to be paid next year). j. Purchased $1, 430 in short-term investments and paid $900 for insurance coverage beginning in the next fiscal year. k. Received $20 in interest revenue earned in the current year on short-term investments. Required: Prepare in good form an income statement for the current year ended December 31. (Ignore income taxes.)