Required information [The following information applies to the questions displayed below.] Cheese Factory Incorporated reported the following information for the fiscal year ended August 31, 2021. Accounts Payable. $149,000 Accounts Receivable 19,000 Cash (balance on September 1, 2020) 79,000 Cash (balance on August 31, 2021) 90,000 Common Stock 100,000 Dividends Equipment Notes Payable office Expense 14,000 759,000 34,000 115,000 Prepaid Rent 54,000 Retained Earnings (beginning) 414,000 Salaries and Wages Expense 975,000 Salaries and Wages Payable 174,000 1,738,000 33,000 Sales Revenue Supplies Utilities Expense Other cash flow information: Additional investments by stockholders Cash paid to purchase equipment Cash paid to suppliers and employees. Repayments of borrowings Cash received from customers Cash received from borrowings Dividends paid in cash 550,000 $ 36,000 44,000 1,498,000 159,000 1,681,000 9,000 14,000 Required: 1. Prepare an income statement for the fiscal year ended August 31, 2021.