On January 1, 2015, Fast Track, Inc. was started with $30,000 invested by the owners as contributed capital.

On December 31, 2015, the accounting records contained the following amounts:

Accounts Payable	$1,800		Dividends Declared and Paid	$1,900
Accounts Receivable	2,200		Office equipment	25,000
Accumulated Depreciation	500		Office supplies	1,750
Cash	10,000		Office supplies expense	600
Consulting fees revenue	19,200		Rent expense	2,400
Common stock	30,000		Salary expense	6,900
Depreciation expense	500		Telephone expense	250

The Company also estimates that it will have to pay income tax expense of $550.

The Company has 100,000 shares of common stock outstanding.

Prepare an income statement at December 31, 2015 for the first year of Fast Track's operation in proper form. Be sure to include income tax expense and earnings per share.