The adjusted trial balance of Blume Irrigation System at December 31, 2016, follows: (Click the icon to view the adjusted trial balance.) Read the requirements. Requirement 1. Prepare the company's income statement for the year ended December 31, 2016. (If a box is not used in the statement, leave the box empty; do not select a label or enter a zero. Use a minus sign or parentheses to show a net loss.) Blume Irrigation System Income Statement Year Ended December 31, 2016 Net Income (Loss) Blume Irrigation System Adjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit Cash $ 49,710 Accounts Receivable 47,500 Office Supplies 3,790 Prepaid Insurance 4,600 Equipment 28,000 Accumulated Depreciation-Equipment $ 6,500 Building 56,100 Accumulated Depreciation-Building Accounts Payable Interest Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Blume, Capital Blume, Withdrawals 25,000 42,000 1,200 3,500 1,300 30,100 30,000 2,500 upplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Building Accumulated Depreciation-Building Accounts Payable Interest Payable Salaries Payable Unearned Revenue Notes Payable (long-term) Blume, Capital Blume, Withdrawals Service Revenue Insurance Expense Salaries Expense Supplies Expense Interest Expense Depreciation Expense-Equipment Depreciation Expense-Building Total 3,790 4,600 28,000 $ 6,500 56,100 25,000 42,000 1,200 3,500 1,300 30,100 30,000 2,500 75,800 800 15,700 1,600 1,200 2,000 1,900 $ 215,400 $ 215,400