One month transactions of ABC Company show the following balances.

Prepare Income statement for the period ending December, 2019.

Sale Inventory A $2,000

Sale Inventory B $3,000

Sale Inventory C $5,000

Rent Expense $10,000

Insurance Expense $6,000

Salary Expense $40,000

Cash $30,200

Accounts receivable $2,200

Office supplies Expenses $1,000

Office equipment $36,000

Other Income $70,000

Fuel Expenses $700

Advertising Expenses $4,000

Accounts Payable $4,000

Capital $20,300

Withdrawal $8,000