Given the following SELECTED information for the City of ABC General Fund's (GF) December 31, 2017 adjusted trial balance:

Accounts Payable $35,000

Deferred Inflows - Property Taxes 20,000

Encumbrances (current year outstanding) 10,000

Expenditures 925,000 Fund Balance 51,000

Proceeds from Debt Issue 45,000

Proceeds from Sale of Land 18,000

Revenues 970,000

Transfer to Debt Service Fund 15,000

Prepare in good form an "Income Statement" for the GF.