Current Attempt in Progress The Oromocto Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year. February 28, 2018 Accounts payable 13,700 Income tax payable 4,300 27,600 Insurance expense 3,300 Accounts receivable Accumulated depreciation equipment 5,600 Prepaid insurance 3,000 Cash 18,500 Rent expense 5,800 Common shares 6,730 Retained earnings 21,370 Depreciation expense 4,600 Salaries payable 2,550 Dividends declared 1,900 Salaries expense 44,350 Equipment 23,400 Supplies 400 4,000 Fees earned 89,600 Supplies expense Income tax expense 4,700 Utilities expense 2,300 During the year ended February 28, 2018, common shares were issued for $5,000. (a) Prepare an income statement for the year. Tipui l le Sidement for the year. OROMOCTO CORPORATION Income Statement Year Ended February 28, 2018