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Jason Chan operates a takeout pizza business called A Slice of Life Ltd . During the month of November, the following things occurred: 1 .

Jason Chan operates a takeout pizza business called A Slice of Life Ltd. During the month of November, the following things occurred:1. He paid $7,692 for pizza ingredients, $1,900 for rent, $220 for the telephone system, and $1,090 for utilities.2. He took in $23,600 from selling pizzas.3. He used up $7,130 worth of ingredients to make the pizzas.4. His employees earned and were paid wages totalling $5,300 for the month.(a) Prepare a statement of income to determine how much A Slice of Life Ltd. earned in November

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