Please create an Income statement and provide explanations! Thank you for your help, I will definitely leave a like!

Question 2: This question is meant to determine whether you understand which accounts appear on the income statement and on the balance sheet. It also will determine whether you understand the various sections that typically appear on an income statement and balance sheet. Given the accounts and their respective balances that appear below, prepare in good form a multi-step income statement for the year ended December 31, 1999 and a classified balance sheet at December 31, 1999. All account balances are as of December 31, 1999 except for Retained Earnings, whose balance is as of January 1, 1999. 39,000 61,000 42,000 65,000 2,000 61,000 23,000 10,000 670,000 Accounts Payable Accounts Receivable Accumulated Depreciation, Property, Plant & Equipment Additional Paid-in Capital Amortization Expense Beginning Retained Earnings Cash Common Stock Cost of Goods Sold Depreciation Expense, Property, Plant & Equipment Dividends Income Tax Expense Income Taxes Payable Interest Expense Interest Payable Inventory Long-Term Notes Payable Patent Prepaid Rent Property, Plant & Equipment Rent Expense Sales Unearned Revenues Utility Expense Wage Expense Wages Payable 7,000 6,000 13,000 3,000 5,000 1,000 52,000 50,000 18,000 6,000 140,000 36,000 935,000 9,000 4,000 180,000 8,000