On December 31, 2022 Pack-and-Deliver Company completed its first year of operations. The following information has been provided for the year: a. Sold packing supplies for $31,600 and provided $284,000 of delivery services. b. All packing supplies sales were for cash. c. Collected $213,600 of delivery service revenue. d. Paid $16,600 cash to rent packing equipment, with $11,600 for rental in 2022 and the remaining amount for rental in 2023 . e. Spent $5,600 cash to repair delivery equipment during the year. f. Bought packing supplies at a total cost of $47,600 and paid for $26,600 of these supplies. There were $21,600 of these supplies that have not yet been sold or used. g. Paid employees $81,600 during the year. h. Paid $17,600 for advertising for the year. i. Used $15,600 in fuel for the delivery equipment. j. Sold investments for $9,600 that had been purchased earlier in the year for $8,600. k. Ordered $500 in spare parts and supplies. l. Income tax expense for the year is $19,600. Required: Prepare an income statement for Pack-and-Deliver Company for the year ended December 31, 2022. Pack-and-Deliver, Company Income Statement