The following account balances appear in the 2024 adjusted trial balance of Beavers Corporation: Service Revenue, $200,000; Salaries Expense, $95,000; Supplies Expense, $12,500; Rent Expense, $18,500; Advertising Expense, $29,000; and Delivery Expense, $10,500.

Prepare an income statement for the year ended December 31, 2024.