In 2024, Pharoah Inc. sold 15,000 units of its product at an average price of $320 per unit. Pharoah purchased 20,500 units of its product from its manufacturing supplier in 2024, at an average cost of $180 per unit. Operating expenses (excluding depreciation) for Pharoah Inc. in 2024 were $382,000 and depreciation expense was $136,000. Pharoah had $1,020,000 in debt outstanding for the full year, at an interest rate of 10 percent. Finally, Pharoah's tax rate was 20 percent. Pharoah's fiscal year runs from January 1 through December 31. Given this information, prepare Pharoah's 2024 statement of income. Pharoah Inc. Statement of Income $ $