Do a income statement for this company

Discuss the accounting for multiyear licensing arrangements. Discuss the accounting for revenue related to games published by third parties. (Alternates are 48, 50, 52, and 54) The Montero Company, wholesale distributor of furnace and air a following summarized conditioning equipment, began business on July 1, 20X2. The following summarized transactions occurred during July: Montero's stockholders contributed $300,000 in cash in exchange for their common stock. On July 1, Montero signed a 1-year lease on a warehouse, paying $48,000 cash in advance for occupancy of 12 months. On July 1, Montero acquired warehouse equipment for 100,000. A cash down payment of $40,000 was made, and a note payable was signed for the balance d. On July 1, Montero paid $24,000 cash for a 2-year insurance policy covering fire, casualty and related risks. Montero acquired assorted merchandise for $35,000 cash. Montero acquired assorted merchandise for $190,000 on open account. Total sales were $205,000, of which $30,000 were for cash. Cost inventory sold was $155,000. Rent expense was recognized for the recognized for the month of July. Depreciation expense of $2,000 was the month. Insurance expense was recognized for month. Collected $45,000 from credit customers. Disbursed $80,000 to trade creditors. For simplicity, ignore all other possible expenses