Mu Corporation is a retail company. They provided you with the following information for the fiscal year ending December 31, 2023:

• Sales Revenue: $1,800,000
• Cost of Goods Sold: $900,000
• Rent Expense: $150,000
• Utilities Expense: $60,000
• Salaries Expense: $600,000
• Depreciation Expense: $120,000

Calculate Mu Corporation's Net Income and prepare an Income Statement for the fiscal year ending December 31, 2023.