Oriole Grove Hardware has the following balances in the company ledgers for the year ending December 31:

Mortgage Payable $71,900

Prepaid Insurance $5,500

Short-term investments $800

Common Shares $14,700

Cash $4,100

Advertising $49,800

Accounts Receivable $14,900

Sales revenue $597,700

Accounts Payable $8,400

Buildings (Net) $101,000

Cost of Goods Sold $298,100

Note Payable (due in 9 months) $11,600

Retained Earnings (Beg Bal-Jan 1) $44,300

Interest Expense $10,200

Land $21,400

Office salaries $66,000

Sales Salaries $99,000

Supplies expense $15,500

Insurance expense $12,400

Depreciation expense $19,700

Income tax expense $14,700

Dividend Payments $10,000

Interest Income $16,900

Inventory $22,400

Using the above information, prepare the Statement of Income.