MoCo Electronics, Inc

need an income statement fro the year ended march 31, 2020

aaccounts payable 115,500 net sales: 1,465,000 interest expense 3,250

accounts receivable 200,000 cost of good sold: 924,000 taxes 15,250

cash 112,500 selling expenses 35,000 retained earnings 725,000

land 625,000 bad debt expenses 5,500

less; dividends 25,000 administrative expenses 40,000

mortgage payable 12,500 depreciation expense-equipment 25,000

notes payable 4,850 insurance expenses 12,500

patents 12,500 interest income 5,000

salaries 220,000 rent income 6,000