Required Information (The following information applies to the questions displayed below.) The following selected accounts and account balances were taken from the records of Nowell Company. Except as otherwise indicated, all balances are as of December 31, Year 2, before the closing entries were recorded. Consulting revenue Cash Cash received from comton stock issued during Year 2 Travel expense Dividends Cash flow from investing activities Rent expense Payment to reduce debt principal Retained earnings, January 1, Year 2 Salary expense Cash flow from operating activities Common stock, December 31, Year 2 Other operating expenses $ 9,400 8,400 3,600 650 1,700 2,700 1.250 25,000 14,000 3,400 2,500 8,200 2,300 Required a. Prepare the income statement Nowell would include in its Year 2 annual report. NOWELL COMPANY Income Statement For the Year Ended December 31, Year 2 Expenses Total expenses 0 $ 0