i just want the second part which is preparing an income statement. Kindly only prepare the income statement and do not copy paste answer from chegg as it is a balance sheet not an income statement.

the question is in the pictures attached

Prepare a balance sheet for the fiscal year ending April 30, 2021 based on the following transactions: 1) retained earnings $1,562,046 2) patent royalty 19,030 3) merchandise inventory 2550 4) furniture purchased November 1, 2019 30,000 5) promissory note matured 175,000 6) taxes owed =18,000 + 20% of merchandise inventory 7) insurance bought May 1, 2020 for 2 years 6,500 8) 20% of customer debt not collectible 9) commissions owed 18,600 10) par value: common $175/share 11) customers owe 40,000 12) ending cash balance equals amount from sale of business property 13) preferred stock: shares sold = 410 14) equipment purchased May 1, 2016 250,000 15) office furniture 5 year service life; SLD 16) mortgage on equipment 652,619 17) common stock sold = 625 shares 18) equipment 10 year service life; SLD 19) par value: preferred $200/share 20) supplies owed 15,750 21) Company Y promissory note matured 232,000 22) building purchased May 1, 2017 700,000 23) bond 108,000 24) land sold at 10% over market value; purchased May 1, 2017 @ $750,000 25) building 20 year service life: SLD 26) land value appreciates @ 15%/year 27) charitable causes 250,895 28) equipment owed 90,000 29) salaries owed 120, 179 30) copyright royalty 148,600 31) long-term loan 68246 32( scholarship 90000 II. Prepare an Income Statement based on the following: - gross sales = 2346217 - taxes = 9.3% of net sales -sales expenses = 12092 - building depreciation = 1 year depreciation from Balan ce Sheet - discount on sales = 3% of gross sales - administrative expense = 14598 - cost of goods sold = 3x merchandise inventory from Bal ance Sheet - sales returned = 2.5% gross sales - interest expense = 1 3/4% of net sales - income from other sources = 49876 -depreciation on equipment = 1/2 year depreciation fro m Balance Sheet