The adjusted trial balance for Lloyd Construction as of December $31,2023,$ follows:

No$.$ Account Debit Credit

$101$ Cash $ $16,500$

$104$ Short$-$term investments $21,500$

$126$ Supplies $8,100$

$149$ Notes receivable $44,500$

$167$ Equipment $83,000$

$168$ Accumulated depreciation, equipment $ $40,500$

$173$ Building $265,000$

$174$ Accumulated depreciation, building $143,500$

$183$ Land $88,500$

$193$ Franchise $33,500$

$201$ Accounts payable $17,500$

$203$ Interest payable $120$

$233$ Unearned professional revenue $27,500$

$251$ Long$-$term notes payable $137,000$

$301$ Amar Lloyd, capital $96,560$

$302$ Amar Lloyd, withdrawals $3,500$

$401$ Professional revenue $211,480$

$406$ Rent revenue $28,500$

$606$ Depreciation expense, building $20,500$

$612$ Depreciation expense, equipment $8,500$

$623$ Wages expense $64,500$

$633$ Interest expense $660$

$637$ Insurance expense $18,500$

$652$ Supplies expense $13,300$

$688$ Telephone expense $4,900$

$690$ Utilities expense $7,700$

Totals $ $702,660$ $ $702,660$

An analysis of other information reveals that Lloyd Construction is required to make a $$47,500$ payment on the long$-$term notes payable during $2024.$ The notes receivable are due May $1,2025.$ Also, Amar Lloyd invested $$80,000$ cash early in $2023.$

Prepare an income statement for the year ended December $31,2023.$