Bramble Corporation had net sales of $5,060,000 and interest revenue of $86,000 during 2017. Expenses for 2017 were cost of goods sold $3,120,000; selling expenses $434,000; administrative expenses $550,000; and interest expense $23,000. Brambles tax rate is 40%. The corporation had 560,000 shares of common stock authorized and 56,000 shares issued and outstanding during 2017. Prepare a single-step income statement for the year ended December 31, 2017.

BRAMBLE CORPORATION Income Statement For the Year Ended December 31, 2017