Cam Schneider owns Cam's Pets, a small retail shop selling pet supplies. On December 31, 2024, the accounting records of Cam's Pets showed the following: (Click the icon to view the accounting records.) Read the requirements. Requirement 1. Prepare an income statement for Cam's Pets for the year ended December 31, 2024. Cam's Pets Income Statement Year Ended December 31, 2024 - X Data table Revenue: Net Sales Revenue 63000 Cost of Goods Sold: Merchandise Inventory on December 31, 2024 $ 10,250 Beginning Merchandise Inventory 10250 Merchandise Inventory on January 1, 2024 15,600 Purchases of Merchandise Inventory 28000 Net Sales Revenue 53,000 Cost of Goods Available for Sale 38250 Utilities Expense for the shop 3,400 5,000 Ending Merchandise Inventory (15600) Rent for the shop Cost of Goods Sold 22650 Sales Commissions 2,150 Purchases of Merchandise Inventory 28,000 Gross Profit 30350 Selling and Administrative Expenses: Utilities Expense 3400 Rent Expense 5000 Print Done Sales Commissions Expense 2150 Total Selling and Administrative Expenses 10550 Operating Income (Loss) 19800