Help prepare this income statement

Required information P6-4 (Algo) Preparing an Income Statement and Computing the Receivables Turnover Ratio with Discounts, Returns, and Bad Debts LO6-1, 6-2, 6-3 (The following Information applies to the questions displayed below.) Tungsten Company, Inc., sells heavy construction equipment. There are 10,000 shares of capital stock outstanding. The annual fiscal period ends on December 31. The following condensed trial balance was taken from the general ledger on December 31, Current Year: Account Titles Debit Credit Cash 34,400 Accounts receivable (net) 16, 600 Inventory, ending 52, 806 Operational assets 40, 800 Accumulated depreciation $ 17, 600 Liabilities 24, 806 Capital stock 72, 890 Retained earnings, January 1, current year 10,086 Sales revenue 151, 100 Sales returns and allowances 5,806 Cost of goods sold 78, 800 Selling expense 14,508 Administrative expense 15, 800 Bad debt expense 2, 090 Sales discounts 6, 800 Income tax expense 8,080 Totals $ 276, 380 $276, 380 P6-4 Part 1 Required: 1. Beginning with the amount for net sales, prepare an income statement (showing both gross profit and income from operations). (Round "Earnings per share" to 2 decimal places.) TUNGSTEN COMPANY, INC. Income Statement For the Year Ended December 31, Current Year Operating expenses Total operating expenses Earnings per share on capital stock outstanding