HESSAGE HY INSTRUCTOR FULL SCREENF Brief Exercise 4-12 (Part Level Submission) The Oromocto Corporation reports the following adjusted account balances, shown in alphabetical order, at the end of its fiscal year, February 28, 2018: Accounts payable Accounts receivable 13,000 Income tax payable 4,800 28,100 Insurance expense 3,600 Accumulated depreciation-equipment 5,300 Prepaid insurance 2,200 6,300 10,660 Retained earnings 21,140 4,300 Salaries payable 2,750 2,100 Salaries expense 44,550 1,500 86,700 Supplies expense 4,100 4,800 Utilities expense 2,400 Cash 17,700 Rent expense Common shares Depreciation expense Dividends declared Equipment Fees earned Income tax expense 22,700 Supplies During the year ended February 28, 2018, common shares were issued for $5,000. (a) Prepare an income statement for the year OROMOCTO CORPORATION Year Ended February 28, 2018