Grouper Corp.$\text{'}$s unadjusted trial balance at December $1,2025,$ is presented below$\mathrm{.}5\mathrm{.}6/15$DebitCreditCash$$28,160$Accounts Receivable$47,104$Notes Receivable$12,900$Interest Receivable$0$Inventory$46,336$Prepaid Insurance$4,608$Land$25,600$Buildings$192,000$Equipment$76,800$Patent$11,520$Allowance for Doubtful Accounts$$640$Accumulated Depreciation$-$Buildings$64,000$Accumulated Depreciation$-$Equipment$30,720$Accounts PayableGrouper Corp.$\text{'}$s unadjusted trial balance at December $1,2025,$ is presented below$\mathrm{.}5\mathrm{.}6/15$DebitCreditCash$$28,160$Accounts Receivable$47,104$Notes Receivable$12,900$Interest Receivable$0$Inventory$46,336$Prepaid Insurance$4,608$Land$25,600$Buildings$192,000$Equipment$76,800$Patent$11,520$Allowance for Doubtful Accounts$$640$Accumulated Depreciation$-$Buildings$64,000$Accumulated Depreciation$-$Equipment$30,720$Accounts Payable$34,944$Salaries and Wages Payable$0$Notes Payable $($due April $30,2026)14,080$Income Taxes PayableInterest PayableNotes Payable $($due in $2031)44,800$Common Stock$64,000$Retained Earnings$81,508$Dividends$15,360$Sales Revenue$1,152,000$Interest RevenueGain on Disposal of Plant AssetsBad Debt ExpenseCost of Goods Sold$806,400$Depreciation ExpenseIncome Tax ExpenseInsurance ExpenseInterest ExpenseOther Operating Expenses$79\mathrm{.}104$Amortization ExpenseSalaries and Wages Expense$140,800$MacBook$34,944$Salaries and Wages Payable$0$Notes Payable $($due April $30,2026)14,080$Income Taxes Payable$0$Interest Payable$0$Notes Payable $($due in $2031)44,800$Common Stock$64,000$Retained Earnings$81,508$Dividends$15,360$Sales Revenue$1,152,000$Interest Revenue$0$Gain on Disposal of Plant Assets$0$Bad Debt Expense$0$Cost of Goods Sold$806,400$Depreciation Expense$0$Income Tax Expense$0$Insurance Expense$0$Interest Expense$0$Other Operating Expenses$79\mathrm{.}104$Amortization Expense$0$Salaries and Wages Expense$140,800$Total$$1\mathrm{.}486,692$$$1,486,692$The following transactions occurred during December.Dec. Purchased equipment for $$20,480,$ plus sales taxes of $$1,024($paid in cash$)\mathrm{.}2$ Grouper sold for $$4,480$ equipment which originally cost $$6,400.$ Accumulated depreciation on this equipment at January $1,2025,$ was $$2,304$; $2025$ depreciation prior to the sale of equipment was $$1,056\mathrm{.}15$ Grouper sold for $$6,400$ on account inventory that cost $$4,480.($Grouper records sales under a perpetual inventory system.$)23$ Salaries and wages of $$8,448$ were paid.Adjustment data:$1,$ Grouper estimates that uncollectible accounts receivable at year$-$end are $$5\mathrm{.}120\mathrm{.}2.$ The note receivable is a one$-$year, $8\%$ note dated April $1,2025.$ No interest has been recorded.The balance in prepaid insurance represents payment of a $$4,608,6-$month premium on September $1,2025.$The building is being depreciated using the straight$-$line method over $30$ years. The salvage value is $$38,400.$The equipment owned prior to this year is being depreciated using the straight$-$line method over $5$ years. The salvage value is $10\%$ of cost$.$The equipment purchased on December $2,2025,$ is being depreciated using the straight$-$line method over $5$ years, with a salvage value of $$2,304\mathrm{.}7\mathrm{.}8,$The patent was acquired on January $1,2025,$ and has a useful life of $9$ years from that date.Unpaid salaries at December $31,2025,$ total $$2,816\mathrm{.}9.$ Both the short$-$term and long$-$term notes payable are dated January $1,2025,$ and carry a $10\%$ interest rate. All interest is payable in the next $12$ months$\mathrm{.}10$Income tax expense was $$19,200.$ It was unpaid at December $31.$Prepare a $2025$ income statement $.$