Mint Cleaning Incorporated prepared the following unadjusted trial balance at the end of its second year of operations ending December $31.($Assume amounts are reported in thousands of dollars.$)$

Account Titles Debit Credit

Cash $$38$

Accounts Receivable $9$

Prepaid Insurance $6$

Equipment $80$

Accumulated Depreciation $$0$

Accounts Payable $9$

Salaries and Wages Payable $0$

Income Tax Payable $0$

Common Stock $76$

Retained Earnings $4$

Sales Revenue $80$

Insurance Expense $0$

Salaries and Wages Expense $10$

Supplies Expense $26$

Income Tax Expense $0$

Totals $$169$ $$169$

Other data not yet recorded at December $31$:

Insurance expired during the year, $$5.$

Depreciation expense for the year, $$4.$

Salaries and wages payable, $$7.$

Income tax expense, $$9.$

E$4-17($Static$)$ Part $1$

Required:

Using the adjusted balances, prepare an income statement for the year ended December $31.($Enter your answers in thousands, not in dollars $($i$.$e$.,10,000$ should be entered as $10).)$