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Prepare income statement of this? Carla Vista Grove Hardware has the following balances in the company ledgers for the year ending December 31: Mortgage Payable

Prepare income statement of this?

Carla Vista Grove Hardware has the following balances in the company ledgers for the year ending December 31:

Mortgage Payable

$84,900

Interest Expense

$11,300

Prepaid Insurance

$1,600

Land

$29,400

Short-term investments

$1,900

Office salaries

$70,200

Common Shares

$12,000

Sales Salaries

$102,700

Cash

$11,200

Supplies expense

$22,800

Advertising

$48,100

Insurance expense

$9,300

Accounts Receivable

$19,600

Depreciation expense

$15,100

Sales revenue

$603,300

Income tax expense

$9,600

Accounts Payable

$12,500

Dividend Payments

$6,500

Buildings (Net)

$102,000

Interest Income

$19,500

Cost of Goods Sold

$301,000

Inventory

$24,100

Note Payable (due in 9 months)

$11,800

Retained Earnings (Beg Bal-Jan 1)

$42,400

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