Budget Office Systems uses a perpetual inventory system. The adjusted trial balance of Budget Office systems at March 31, 2024 follows:

Budget Office Systems uses a perpetual inventory system. The adjusted trial balance of Budget Office Systems at March 31, 2024, follows: (Click the icon to view the adjusted trial balance.) Prepare Budget's single-step income statement for the year ended March 31, 2024. Budget Office Systems Income Statement Year Ended March 31, 2024 Net Income (Loss) Data table Account Title Cash Accounts Receivable Merchandise Inventory Estimated Returns Inventory Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Refunds Payable Salaries Payable Notes Payable, long-term Common Stock Retained Earnings Budget Office Systems Adjusted Trial Balance March 31, 2024 Debit Balance 2,900 13,100 30,500 1,700 6,800 42,200 Credit I 13,000 6,300 2,800 600 7,800 19,000 2,650 Data table Estimated Returns Inventory Office Supplies Equipment Accumulated Depreciation Equipment Accounts Payable Refunds Payable Salaries Payable Notes Payable, long-term Common Stock Retained Earnings Dividends Sales Revenue Sales Discounts Forfeited Cost of Goods Sold Selling Expense Administrative Expense Interest Expense Total 1,700 6,800 42,200 $ 13,000 6,300 2,800 600 7,800 19,000 2,650 45,000 241,000 1,200 108,450 26,700 14,500 2,500 294,350 $ 294,350