Prepare an income statement.

On December 1, 2020, Metlock, Inc. had the following account balances. Cash Accounts Receivable Inventory Supplies Equipment Debit $7,500 4,600 12,400 1,400 26,400 $52,300 Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Common Stock Retained Earnings Credit $2,640 4,900 1,000 30,000 13,760 $52,300 During December, the company completed the following summary transactions. Dec Paid $1,800 for salaries and wages due employees, of which $800 is for December and $1,000 is for November salaries and wages payable. Received $1,900 cash from customers in payment of account (no discount allowed). 10 Sold merchandise for cash $6,800. The cost of the merchandise sold was $4,200. Purchased merchandise on account from Maglio Co. $8,900, terms 2/10, n/30. Purchased supplies for cash $1,800. 18 Sold merchandise on account $12,600, terms 3/10, n/30. The cost of the merchandise sold was $8,200. 20 Paid salaries and wages $1,500. 23 Paid Maglio Co. in full, less discount. 27 Received collections in full, less discounts, from customers billed on December 18. Prepare an income statement. (If there is a net loss then enter the amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Metlock, Inc. Income Statement Click if you would like to Show Work for this question: Open Show Work