In $2022,$ Pharoah Company had net sales of $$602,000$ and cost of goods sold of $$357,000.$ Operating expenses were $$148,300,$ and interest expense was $$5,600.$ The corporation's tax rate is $30\%.$ The corporation declared preferred dividends of $$10,808$ in $2022,$ and its average common stockholders' equity during the year was $$194,000.$

$($a$)$

Prepare an income statement for Pharoah Company.

Pharoah Company Income Statement