In 2022, Pharoah Corporation had net sales of $595,000 and cost of goods sold of $358,000. Operating expenses were $152,000, and interest expense was $6,000. The corporation's tax rate is 20%. The corporation declared preferred dividends of $12,000 in 2022 , and its average common stockholders' equity during the year was $189,000. (a) Prepare an income statement for Pharoah Corporation