Question 1 of 8 < > View Policies -/30 Current Attempt in Progress Pharoah Corporation is a private camping ground near the Lathom Peak Recreation Area. It has compiled the following financial information as of December 31, 2022. Service revenue $118,800- Dividends declared $8,100 General store revenue 22.500 Blank loan payable 45,000 Accounts payable 9,900 Salaries expense 80,100 Cash 7650 Office expense 19.800 Equipment 102.600 Supplies 2.250 Income tax expense 4,500 Common shares (1/1/2022) 4,500 Supplies expeme 11.700 Retained earnings (1/1/2022) 4,500 Additional information: $31,500 of common shares were issued during the year Prepare a statement of income for Pharoah Corporation for the year ended December 31, 2022. PHAROAH CORPORATION Statement of income