Sheridan Corporation is a private camping ground near the Lathom Peak Recreation Area. It has compiled the following financial information as of December 31, 2022.

Service revenue		$150,480		Dividends declared		$10,260
General store revenue		28,500		Bank loan payable		57,000
Accounts payable		12,540		Salaries expense		101,460
Cash		9,690		Office expense		25,080
Equipment		129,960		Supplies		2,850
Income tax expense		5,700		Common shares (1/1/2022)		5,700
Supplies expense		14,820		Retained earnings (1/1/2022)		5,700

Additional information: $39,900 of common shares were issued during the year.

Prepare a statement of income for Sheridan Corporation for the year ended December 31, 2022.