Prepare an income statement

Cash	$	11,500		Cash dividends	$	2,000
Accounts receivable		20,000		Consulting fees earned		22,000
Office supplies		24,438		Rent expense		3,960
Land		46,000		Salaries expense		8,800
Office equipment		18,000		Telephone expense		760
Accounts payable		43,125		Miscellaneous expenses		580
Common stock		70,913