Instruction The End-of-Period Spreadsheet for Austin Enterprises is presented below. Austin Enterprises End-of-Period Spreadsheet For the Year Ended December 31 Adjusted Trial Balance Income Statement Balance Sheet Account Title Debit Credit Debit Credit Debit Credit Cash 26,500 26,500 Accounts Receivable 7,000 7,000 Supplies 1,000 1,000 Equipment 18,500 18,500 Accumulated Depr.-Equip. 5,000 5,000 Accounts Payable 11,000 11,000 Wages Payable 1,000 1,000 Common Stock 6,000 6,000 Instruction vages Paydule 1.VOU 1,000 Common Stock 6,000 6,000 2,000 2,000 Retained Earnings Dividends 2,000 2,000 59,500 59,500 19,000 19,000 Fees Eamed Wages Expense Rent Expense Depreciation Expense 7.000 7,000 3,500 3,500 Totals 84,500 84,500 29,500 59,500 55,000 25,000 Net Income (Loss) 30,000 30,000 59,500 59,500 55,000 55,000 Required: Prepare an income statement for Austin Enterprises for the year ended December 31. Be sure to complete the statement heading. Refer to the Nists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. You will not nood to enter colons() on the financial statements Lavels and Amount Descriptions Labels December 31 Expenses For the Year Ended December 31 Amount Descriptions Net income Net loss Total expenses Prepare an income statement for Austin Enterprises for the year anded December 31. Be sure to complete the statement reading. Refer to the list of Accounts in the information given Labels, and Amount Descriptions for the exact wording of the answer choices for set entries. You will not need to enter colons) on the income statement Austin Enterprises Income Statement Labely bo 3