Current Attempt in Progress

The following selected accounts from Oriole Corporation's general ledger are presented below for the year ended December $31,2024$:

Accounts receivable

$$233,200$

Accumulated depreciation$-$equipment $672,760$

Advertising expense

$48,400$

Common shares

$220,000$

Cost of goods sold

$1,031,360$

Deferred revenue

$15,840$

Depreciation expense

$110,000$

Dividends declared

$132,000$

Equipment

$1,276,000$

Freight out

$22,000$

Income tax expense

$61,600$

Insurance expense

$20,240$

Interest expense

$54,560$

Interest income

$26,400$

Inventory

$85,360$

Prepaid expenses

$27,280$

Refund liability

$16,720$

Rent income

$21,120$

Retained earnings

$470,800$

Salaries expense

$620,400$

Sales

$2,278,760$ Prepare single step statement of income