The adjusted trial balance for Cortez Company at December 31, 2024 is presented below. Accounts Debit Credit Cash $ 15,000 Accounts receivable 155,000 Prepaid rent 5,000 Supplies 25,000 Equipment 340,000 Accumulated depreciation $ 126,000 Accounts payable 20,000 Salaries payable 3,800 Interest payable 1,400 Notes payable (due in two years) 34,000 Common stock 240,000 Retained earnings 112,800 Dividends 24,000 Service revenue 320,000 Salaries expense 130,000 Advertising expense 79,000 Rent expense 12,000 Depreciation expense 36,000 Interest expense 3,000 Utilities expense 34,000 Totals $ 858,000 $ 858,000 Prepare an income statement for Cortez Company for the year ended December 31, 2024