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The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below.

Accounts	Debit				Credit
Cash	$	10,900
Accounts Receivable		139,000
Prepaid Rent		4,900
Supplies		24,500
Equipment		290,000
Accumulated Depreciation					$	124,000
Accounts Payable						10,900
Salaries Payable						9,900
Interest Payable						3,900
Notes Payable (due in two years)						29,000
Common Stock						190,000
Retained Earnings						49,000
Service Revenue						390,000
Salaries Expense		290,000
Rent Expense		14,500
Depreciation Expense		29,000
Interest Expense		3,900
Totals	$	806,700			$	806,700

Required:

1. Prepare an income statement for the year ended December 31, 2021.