Prepare the income statement

ABC Corporation
Adjusted Trial Balance
December 31, 2014
	Debit	Credit
Cash	$ 650,729
Short term investments	167,000
Fair value adjustment (Trading)	8,000
Accounts receivable	200,200
Allowance for doubtful accounts		$ 25,000
Inventory	75,000
Purchases	-
Prepaid insurance	16,400
LT (Debt) investments (HTM)	177,824
Land	75,000
Building	150,000
Accumulated depreciation: building		4,400
Equipment	60,000
Accumulated depreciation: equipment		22,000
Patent	27,500
Accounts payable		75,240
Notes payable		235,000
Income taxes payable		69,600
Unearned rent revenue		24,000
Bonds Payable		800,000
Premium on Bonds Payable		56,860
Common stock		104,000
PIC In Excess of Par-Common Stock		40,000
Retained earnings		-
Treasury stock	-
Dividends	41,000
Sales Revenue		802,845
Advertising expense	8,400
Wages expense	80,350
Office expense	21,700
Depreciation expense	26,400
Utilities expense	31,000
Insurance expense	82,000
Income taxes expense	69,600
Rent Revenue		12,000
Wages Payable		12,750
Interest Expense	1,175
Interest Payable		49,175
Impairment Loss Expense	10,000
Investment in Bonds	3,561
Unrealized gain/loss Income		8,000
Bond Interest Expense	43,089
Interest Revenue		19,561
Paid in Capitol Treasury Stock		21,000
Bad Debt Expense	25,000
Delievery Truck	39,815
Capital Lease Liability - Delievery Truck		29,312
Lease Interest Expense	2,540
Lease Interest Expense Payable		2,540
Pension Expense	40,000
Pension Asset/Liability	50,000
Other Comprehensive Income		55,000
Deferred Compensation	10,000
Cost of Goods Sold	275,000
	$ 2,468,283	$ 2,468,283