John's Coffee Shop:

• Revenue: $150,000
• Cost of Goods Sold (COGS): $60,000
• Rent Expense: $12,000
• Wages Expense: $30,000
• Utilities Expense: $3,000
• Other Operating Expenses: $5,000
• Interest Expense: $500
• Other Income: $1,000
• Income Tax Expense: $10,000

Prepare the profit and loss account and calculate the net income for John's Coffee Shop.