Insomniacs Coffee Ltd., a mobile coffee company, had the following account balances at the end of December 2020: Cash Accounts payable Dividends declared Sales revenue Inventory Advertising expense Common shares Prepaid insurance Wages expense Equipment Rent expense Wages payable Cost of goods sold Depreciation expense Loan payable Interest expense Accounts receivable Retained earnings (as at January 1, 2019) $118,000 337,000 182,000 2,904,000 306.000 77,000 101,000 23.000 511,000 1,227,000 180,000 44,000 1,648,000 82,000 782,000 42.000 186,000 414,000 (a) Prepare a statement of income for the year ended December 31, 2020. (Enter loss using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Insomniacs Coffee Ltd. Statement of Income $