he following account balances are taken from Sherwood Ltd.s adjusted trial balance at June 30, 2020:

		Debit			Credit
Sales revenue					$1,242,000
Advertising expense		$128,000
Cost of goods sold		597,000
General and administrative expenses		41,000
Selling expenses		76,000
Depreciation expense		71,000
Interest expense		39,000
Interest revenue					43,000
Income tax expense		10,000
Wages expense		162,000
Utilities expense		106,000

Question 2 of 3 View Policies Current Attempt in Progress The following account balances are taken from Sherwood Ltd's adjusted trial balance at June 30, 2020: Debit Credit $1,242,000 Sales revenue Advertising expense Cost of goods sold General and administrative expenses Selling expenses Depreciation expense Interest expense Interest revenue Income tax expense Wages expense Utilities expense $128.000 597,000 41,000 76,000 71.000 39,000 43,000 10,000 162,000 106,000 000 Prepare a single-step statement of income for the year ended June 30, 2020. Sherwood Ltd. Statement of Income V $ >