Emporium Store, Year ended August 21, 2026 Sales revenue: $350,000 Sales returns & allowances: $12,000 Cost of Goods Sold: $110,000 Salaries & Wages expense: $20,000 Advertising expense: $7,000 Utilities expense: $1,000 Income tax expense: $4,500

prepare an income statenent

Emporium Store, Year ended August 21, 2026 Sales revenue: $350,000 Sales returns \& allowances: $12,000 Cost of Goods Sold: $110,000 Salaries \& Wages expense: $20,000 Advertising expense: $7,000 Utilities expense: $1,000 Income tax expense: $4,500