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Preparation of an income statement from a list of accounts: Based upon the items below, create an income statement in proper form. All items may

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Preparation of an income statement from a list of accounts: Based upon the items below, create an income statement in proper form. All items may not be used Account Balance Balance in US $ Balance in US $ 1,100,000 Account Name General and Administrative 96,000 Expense Accumulated Deprecation42,000 Retained Earnings Revenue 24,000 102,000 Prepaid Rent Research and Development Expense Cash Depreciation Expense 26,000 183,000 Cost of goods sold Accounts Payable Rent Expense 58,000 520,000 142,000 178,000 Interest Expense 18,000

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