The accountant for Flagger Company prepared the following list of account balances from the companys records for the year ended December 31:

Fees earned	$165,000		Cash	$30,000
Accounts receivable	14,000		Selling expenses	44,000
Equipment	42,000		Common stock	36,000
Accounts payable	12,000		Interest income	3,000
Salaries & wages expense	40,000		Rent expense	51,000
Income taxes payable	5,000		Prepaid Rent	2,000
Notes payable	20,000		Income taxes expense	18,000

Prepare an income statement for Flagger Company in good form.

Flagger Company
Income Statement
For the Year Ended December 31
Revenues:
Accounts receivable	$
Cash		$
Expenses:
Rent expense	$
Selling expenses
Salary and wages expense
Income taxes expense
Total expenses
Net income or loss		$