During 2025 , the following transactions occurred, Marin uses a perpetual inventory system. 1. Marin'paid S5, 500 intereat on the bonds on January 1, 2025 2 Marin purchased 5530 420 of imentory on zocoume 3. Marin sold for $2,056,000 cash inventory which cost $580,800. Marin also collected 563,360 sales toos. 4. Marin paid 5506,000 on accounts paryable. 5. Marin paid 55500 interent on the bonds on luty 12025 . 6. The prepaid insurance ($12,320) explred on July 31 7. On August 1, Marin paid \$22,440 for insurance coverage from August 1, 2025, through July 31, 2026. 8. Marin paid 537,400 miler tanes to the state. 9. Paid other operating expenses, $200,200. 10. Redeemed the bondt on Becember 31,2025 , by paying $105,600 plus $5,500 interest. 11. Issued 5198,000 of 8%,10 year bonds on December 31, 2025, at 103. The bonds pay interest every June 30 and Decernber 31. Adjustment data: 1. Recorded the insurance expired from item 7. 2. The equlpment was actuired on December 31,2024, and will be depreciated on a straight-line basis over 5 years with a \$6.700 salvage value. 3. The income tax rate is 30% (Hint: Prepare the income statement up to income before taves and multiply by 30% to compute the amount] Prepare an income atatement for the year endins December 31, 2025