1. Please use the following information to create an income statement for fiscal year ending December 31, 2019 for ABC company:

Utility Expense	$19,000
Equipment Rental Expense	$21,300
Interest Expense	$3,500
Management Salary Expense	$110,000
Gross Sales	$1,230,000
Sales & Marketing Expense	$15,000
Payroll Tax Expense	$13,750
Sales Returns & Allowances	$1,500
Cost of Goods Sold	$623,000
Rent Expense	$24,000
Depreciation Expense	$3,200