Prepare an income statement using the following information:

Equipment	43,600	Cash	10,600
Note payable, due 12-31-Yr 5	30,000	Dividends	12,000
Other operating expenses	6,500	Common stock	50,000
Sales revenue	120,000	Retained earnings	37,000
Cost of goods sold	48,000	Accumulated depreciation	17,000
Buildings	57,500	Income tax expense	9,400
Wages expense	11,300	Inventory	7,200
Accounts receivable	3,900	Accounts payable	5,800