S\&. Lawn Service Company maintains its books on a cash basis. However, the company recently borrowed $100,000 trom a local bank, and the bank requires S\&J to provide annual financial statements prepared on an accrual basis. During 2024, the following cast flows were recorded: You are able to determine the following information about accounts receivable, prepaid expenses, and accrued liabilities: In addition, you learn that the bank loan was dated September 30, 2024, with principth and interest at 6% due in one yeat. Depreciation on the company's equipment is $10,000 for the year. Required: Prepare an accrual basis income statement for 2024. (Ignore income taxes.)