Prepare an income statement for Sunland Company for the year ended December 31, 2022. SUNLAND COMPANY Income Statement For the Year Ended December 31, 2022 Revenues Service Revenue 5,700 Cash 87,200 Expenses 126,450 Expenses Salaries and Wages Expense 116,500 Insurance Expense 8,100 Interest Expense 1,850 Total Expenses 126,450 Net Income / (Loss) 469,550 as. 2000-2020 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc Exercise 1-10 The following items and amounts were taken from Sunland Company's 2022 income statement and balance sheet. 782,200 Cash Retained earnings Cost of goods sold Salaries and wages expense Prepaid insurance Inventory $ 87,200 Accounts receivable $ 88,700 123,500 Sales revenue 436,000 Notes payable 6,700 116,500 Accounts payable 54,500 8,100 Service revenue 5,700 64,100 Interest expense 1,850