Peter$$s Curling Inc. operates several curling centres for games and equipment sales. The following transactions occurred in October of the current year:

Peter$$s collected $$14,500$ from customers for games played in October.

Peter$$s sold curling equipment inventory for $$9,500$; received $$6,000$ in cash and the rest on account; the cost of sales is $$5,800.$

Peter$$s received $$4,000$ from customers on account who purchased merchandise in September.

The curling league gave Peter$$s a deposit of $$4,500$ for the upcoming fall season.

Peter$$s paid $$5,000$ for the September electricity bill and received the October bill for $$5,500,$ which will be paid in November.

Peter$$s paid $$7,000$ to employees for work in October.

Peter$$s purchased and paid $$2,100$ in insurance for coverage from October $1$ to December $31.$

Peter$$s paid $$2,500$ to plumbers for repairing a broken pipe in the washrooms.

Required:

Prepare a statement of earnings for Peter$$s Curling Inc. for the month of October of the current year. Use an income tax rate of $40$ percent.