Sandhill Grove Hardware has the following balances in the company ledgers for the year ending December 31: Mortgage Payable $71.200 Interest Expense $5,200 Prepaid Insurance $1,600 Land $22,000 Short-term investments $100 Office salaries $66,100 Common Shares $13,600 Sales Salaries $96,300 Cash $11,900 Supplies expense $17,700 Advertising $45,500 Insurance expense $14,800 Accounts Receivable $16,300 Depreciation expense $22,100 Sales revenue $601.000 Income tax expense $9,600 Accounts Payable $15,300 Dividend Payments $12,200 Buildings (Net) $98,400 Interest Income $10,000 Cost of Goods Sold $298,900 Inventory $22,700 Note Payable (due in 9 months) $13,300 Retained Earnings (Beg Bal-Jan 1) $37,000 (a) Using the above information, prepare the Statement of Income.