Presented below is information for Blue Ribbon Company for the month of December 2020.

Cost of goods sold	270,000	Supplies expense	10,000
freight-out	20,000	sales discount	5,000
depreciation expense	10,000	sales return and allowances	9,000
rent expense	50,000	Sales revenue	510,000

Instructions: Prepare an income statement for the month ended December 31, 2020