Peter's Curling Inc. operates several curling centres for games and equipment sales. The following transactions occurred in October of the current year: a. Peter's collected $16,000 from customers for games played in October. b. Peter's sold curling equipment inventory for $11,000; received $7,000 in cash and the rest on account; the cost of sales is $6,800. c. Peter's received $5,000 from customers on account who purchased merchandise in September. d. The curling league gave Peter's a deposit of $5,500 for the upcoming fall season. e. Peter's paid $6,000 for the September electricity bill and received the October bill for $6,600, which will be paid in November. f. Peter's paid $8,000 to employees for work in October. g. Peter's purchased and paid $2,400 in insurance for coverage from October 1 to December 31. h. Peter's paid $3,000 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