Pharoah Corporation is a private camping ground near the Lathom Peak Recreation Area. It has compiled the following financial information as of December 31, 2022. Service revenue $147.840 Dividends declared $10,080 General store revenue 28.000 Bank loan payable 56.000 Accounts payable 12.320 Salaries expense 99,680 Cash 9.520 Office expense 24,640 Equipment 127,680 Supplies 2.800 5.600 Income tax expense Common shares 11/1/20221 5,600 14.560 Supplies expense 5.600 Retained earnings (1/1/2022) Additional information: $39,200 of common shares were issued during the year Prepare a statement of income for Pharoah Corporation for the year ended December 31, 2022. PHAROAH CORPORATION Statement of income $