Pastina Company sells various types of pasta to grocery chains as private label brands. The company's fiscal year-end is December 31. The unadjusted trial balance as of December 31, 2018, appears below. Account Title Debits Credits Cash 38,500 Accounts receivable 50,000 Supplies 1,450 Inventory 70,000 Note receivable 23,100 Interest receivable 0 Prepaid rent 1,900 Prepaid insurance 0 Office equipment 78,000 Accumulated depreciationoffice equipment 29,250 Accounts payable 29,000 Salaries and wages payable 0 Note payable 53,100 Interest payable 0 Deferred revenue 0 Common stock 60,000 Retained earnings 19,500 Sales revenue 198,000 Interest revenue 0 Cost of goods sold 89,100 Salaries and wages expense 17,700 Rent expense 10,450 Depreciation expense 0 Interest expense 0 Supplies expense 950 Insurance expense 4,800 Advertising expense 2,900 Totals 388,850 388,850 Information necessary to prepare the year-end adjusting entries appears below. Depreciation on the office equipment for the year is $9,750. Employee salaries and wages are paid twice a month, on the 22nd for salaries and wages earned from the 1st through the 15th, and on the 7th of the following month for salaries and wages earned from the 16th through the end of the month. Salaries and wages earned from December 16 through December 31, 2018, were $1,250. On October 1, 2018, Pastina borrowed $53,100 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years. On March 1, 2018, the company lent a supplier $23,100 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2019. On April 1, 2018, the company paid an insurance company $4,800 for a two-year fire insurance policy. The entire $4,800 was debited to insurance expense. $770 of supplies remained on hand at December 31, 2018. A customer paid Pastina $1,500 in December for 1,250 pounds of spaghetti to be delivered in January 2019. Pastina credited sales revenue. On December 1, 2018, $1,900 rent was paid to the owner of the building. The payment represented rent for December 2018 and January 2019, at $950 per month. For requirement 4, Assume that no common stock was issued during the year and that $3,600 in cash dividends were paid to shareholders during the year. 4. Prepare the income statement, statement of shareholders' equity and classified balance sheet for the year ended December 31, 2018.

QUESTION ON #3. I cannot get the interest expense on the income statement, please explain. I tried $1593 and it shows it's wrong.