Income Statement Preparation. The following is a December 31, 2018 Income Statement Trial Balance for Pandora Corporation. Please utilize Microsoft Excel and prepare an Income Statement, in professional form, for the company. Please note that Excel must be utilized to demonstrate your knowledge of this software application.

Pandora Corporation operates several factories in the Midwest that manufacture consumer electronics, The December 31, 2018 year-end trial balance contained the following income statement items: Debits Credits 12,000,000 52,500 Account Title Sales revenue Interest revenue Loss on sale of investments Cost of goods sold Selling expenses General and administrative expenses Interest expense Research and development expense Income tax expense 120,000 6,000,500 580,000 1,400,000 35,500 1,110,000 850,000 Required: Prepare Pandora's Income Statement, in professional form, for the year ended December 31, 2018