How do I write the income statement for the given Balance Sheet?

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C ... 3 310-Acct Cycle Project-CMC-MS Excel Spreadsheet Draw Page Layout Formulas Data Review View Tell me Share Comments Home Insert dd- Arial 12 AA D Wrap Text v Number V v Conditional Format Cell Insert Delete Format Sort & Find & Analyze Paste BIUV A Merge & Center v v % 9 508 Formatting as Table Styles Filter Select Data H4 X V fx A B C D E F G H J K M N O P Q R S T U V W CM Corporation Income Statement For the Years Ended JOU A WON - December 31, 20x1 December 31, 20x0 Revenue 50 00 Net product sales revenue $8,984,852 Service revenue 975,860 Total revenue $0 $9,960,712 Cost of goods sold Products 5,356,018 Services 445,637 Total cost of sales 5,801,655 oo Gross profit 4,159,057 Operating expenses Advertising 123,869 Bad debt expense 28,640 Depreciation and amortization 125,500 Dues and subscriptions 19,730 Insurance 90,144 Legal and accounting fees 87,650 Miscellaneous 12,010 Office expense 214,138 Payroll taxes 131,170 Property taxes 93,400 Repair and maintenance 37,543 30 Research and development 278,000 Telephone 21,085 Travel and entertainment 60.402 33 Utilities 37,876 Wages - Employees 954,688 35 Salaries - Officers 650,000 36 Total operating expenses 0 2,965,845 37 O 38 Income (loss) from operations 1,193,212 39 40 Other income and (expense AJE's and Closing Entries Trial Balance Balance Sheet Sheet1 Income Statement Comprehensive Inc Stmt SHE Stmt + + 100% Ready fox Accessibility: InvestigateAutoSave OFF HEY . C ... 3 310-Acct Cycle Project-CMC-MS Excel Spreadsheet Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Arial 12 AA D Wrap Text v Number dd- Paste BIUV A FE Merge & Center v $ Conditional Format Cell Insert Delete Format Sort & Find & Analyze Formatting as Table Styles Filter Select Data D73 X V fx IC D G N o Q AA AB AC AD AE AG General Ledger Account Name Trial Balance Before Adj 12/31/x1 AJEs at 12/31/x1 Trial Balance After Adj 12/31/x1 Closing Entries Post-Closing T/B 12/31/x1 Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash and cash equivalent 95,563 95.56 95,563 Accounts Receivable 913,780 04,85 808.930 808,930 Allowance for doubtful accounts 29,468 18,450 29.42 40,447 40,447 Interest Receivable 0 22,800 22,800 22,800 Inventory ,270, 160 47,520 ,317,680 317,680 Prepaid expenses 26,780 21,424 5,356 5,356 Other Current Assets 16,063 16,063 16,063 Investments 160,500 160,500 160,500 Fair Value Adjustment 0 12,400 12,400 12,400 Notes Receivable 285,000 285,000 285,000 13 Building 876,418 876,418 76,418 Equipment and furniture 332,983 332,98 332,983 5 Land 48,791 48,79 348,791 Accum Depr 656,465 92,770 16,935 16,935 Goodwill 493,951 93,951 493,951 217,000 184.70 184,700 Accounts Payable 1,169,34 1,169,343 ,169,343 20 Dividends payable 220,00 20,00 220,000 interest payable 31,572 10,52 42,096 42,096 Unearned Consulting Revenue 326,220 212,043 114,177 1 14,177 Wages payable 81,350 39,800 121,150 21,150 Payroll taxes payable 8.950 2,900 11,850 11,850 Income tax payable 216,767 216,767 16,767 Long term liabilities 01,60 701,600 01,600 Common Stock 920,000 20,000 20,000 Paid-in capital common stock 105,000 05,000 05,000 Treasury Stock 400,000 00,000 400,000 Retained Earnings 539,069 539,069 539,069 Dividends 0 32 Accum Other Comprehensive Income 33 Sales revenue 9,253,346 86,400 , 166,946 9, 166,946 Service revenue 1,169.385 212,04 1,381.428 1,381,428 Interest Revenue 22,80 22,800 22,800 Sales returns 162,400 162,400 62,400 Sales discounts 269,662 269,662 69,662 Product cost of goods sold 5,384,590 47,520 5,337,070 5,337,070 Service cost of goods sold 570 , 811 570,811 570 , 811 Advertising Expense 159,080 159,080 159,080 Bad debt expense 0 29,42 29,429 29,429 Depreciation and amortization 0 92,770 92,770 92,770 Professional Dues & subscriptions -1,470 21,470 21,470 Gain/loss on disposal 4,790 4,790 4,790 Income tax expense 216,767 216 , 767 216,767 6 Insurance Expense 80, 144 21,424 101,568 101,568 Interest expense 31.572 10,524 42,096 42,096 Legal and accounting fees 106 650 106.650 106,650 Miscellaneous 9.048 9.048 9.048 Office expense 220, 114 220, 114 220, 114 Payroll taxes 136,975 2.900 139,875 139,875 Property taxes 104,570 104,570 104,570 Repair and maintenance 42,028 42,028 42,028 Research and 470,680 70,680 470,680 5 Telephone 20.085 20,08 20.085 Travel and entertainment 38 , 391 38,39 38 , 391 7 Utilities Expense 47,049 47.049 47,049 8 Wage Expense 64,670 39,800 ,004,470 ,004,470 9 Salaries - Officers 710.000 710,000 710,000 Income Summary 220,000 220,000 1 Unrealized Gain/Loss-AFS 12,40 12.40 12 400 62 14,991,768 14,991,768 1,033,227# 1,033,227 15,502,008 15.502,008 0 # 0 15,282,008 15.502,008 AJE's and Closing Entries Trial Balance Balance Sheet Sheet1 Income Statement Comprehensive Inc Stmt SHE Stmt + Ready Accessibility: Investigate 65%AutoSave OFF HEY . C ... 3 310-Acct Cycle Project-CMC-MS Excel Spreadsheet Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Arial 12 AA D Wrap Text v Number dd- V v Paste BIUV A Merge & Center v v % " Conditional Format Cell Insert Delete Format Sort & Find & Analyze Formatting as Table Styles Filter Select Data M58 X V fx A B C D G K AA AB AD AE AF AG AH AJE # Account Name CR Closing Entries Account Name CB Wages Expense 39,800 Sales Revenue 3,166,946 Wages payable 39,800 Service Revenue 1,381,428 Payroll Taxes 2,900.00 Interest Revenue 22,800 Payroll Tax payable 2,900 Income Summary 10,571,174 ncome Summary 9,920,873 Unearned consulting revenue 212,043 Sales Retums 62,400 Service Revenue 212,043 Sales discounts 269,662 Product Cost of Goods sold Service Cost of Goods Sold 570,811 Sales 86,400.00 Advertising Expense 159,080 Accounts receivable 86,400 Bad Debt Expense 29,429 Inventory 47,520 Depreciation and amortization 92,770 Product cost of goods sold 47,520 Professional dues and subscriptions 21,470.00 Loss on disposal 4,790 Income tax expense 216,767 Allowance for doubful accounts 18,450 Insurance expense 101.568 Accounts receivable 18,450.00 Interest expense 2,096.00 Bad debts expense 29,429 Legal and accounting fees 106,650.00 Allowance for doubtful accounts 29,429 Miscellaneous 9,048.00 e expense 20, 114.00 Insurance expense 21,424.00 Payroll taxes 39,875.00 Prepaid expense 21,424.00 operty taxes 104,670 Repair and maintenance 42,028 Depreciation and amortization 92,770 Research and development 70,680 Accumulated depreciation 60,470 Telephone 20,085 Patent 32,300 Travel and entertainment 38,391 Utilities expense 47.049 Wages expense 1,004,470 Interest expense 10,524.00 Salaries - Officers 10,000.00 Interest payable 10,524.00 Income Summary $50,301 Retained Eamings 650,301 Interest receivable 22,800.00 Interest revenue 22,800.00 Dividends 220,000 Retained Eamings 220,000.00 Dividends 220,000 Dividend payable 220,000 Unrealized gain on AFS 12,400 10 Fair value adjustment 12,400.00 Accumulated Other Comprehensive Income 12,400 Unrealized holding gain-AFS 12,400.00 11 Income tax expense 216,767 Income tax payable 216,767.00 AJE's and Closing Entries Trial Balance Balance Sheet Sheet1 Income Statement Comprehensive Inc Stmt SHE Stmt + Ready Ex Accessibility: Investigate 58%AutoSave OFF HEY C ... 3 310-Acct Cycle Project-CMC-MS Excel Spreadsheet Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Arial 12 AA D Wrap Text v Custom dd- Paste MVA Merge & Center v $ ~ % " Conditional Format Cell Insert Delete Format Sort & Find & Analyze BIUV Formatting as Table Styles Filter Select Data G15 X V fx =SUM(G8:G14) B C D E F G H K L M N O CM Corporation Statement of Stockholder's Equity as of December 31, 20x1 VOU AWN - Accumulated Total Common Additional Treasury Retained Other Comprehensive Stockholder's Equity Stock Paid-In Capital Stock Earnings Income 8 Beg. Balance, 1/1/x1 $ 1, 164,069 $ 920,000 $ 105,000 $ (400,000) $ 539,069 $ Common Stock Issued 10 Common Stock Repurchased 11 Net Income ('x1) 12 Other Comprehensive Income ('x1) 13 Dividend ('x1) 14 15 End. Balance, 12/31/x1 $ 1, 164,069 $ 920,000 $ 105,000 $ (400,000) $ 539,069 $ 16 17 18 19 20 21 22 23 24 25 26 27 28 AJE's and Closing Entries Trial Balance Balance Sheet Sheet1 Income Statement Comprehensive Inc Stmt SHE Stmt + Accessibility: Investigate 100% Ready +