The following account balances were included in the trial balance of Sheridan Corporation at June $30,2025.$

Sales revenue

Sales discounts

$$1,595,060$ Depreciation expense $($office furniture:

Cost of goods sold

$31,950$ Property tax expense

using the single$-$step form

Salaries and wages expense $($sales$)$

$902,000$ Bad debt expense $($selling$)$

Sales commissions

$57,640$ Maintenance and repairs expense $($adm

$99,290$ Office expense

Travel expense $($salespersons$)$

$35,300$ Sales returns and allowances

Delivery expense

$21,900$ Dividends revenue

Entertainment expense

$15,100$ Interest expense

Telephone and Internet expense $($sales$)$

$9,220$ Income tax expense

Depreciation expense $($sales equipment$)$

$5,345$ Depreciation understatement due to er

Maintenance and repairs expense $($sales$)$

$6,774$ Dividends declared on preferred stock

Miscellaneous selling expenses

$4,879$ Dividends declared on common stock

Office supplies used

$3,250$

Telephone and Internet expense $($administration$)$

$2,735$

The Retained Earnings account had a balance of $$352,440$ at July $1,2024.$ There are $73,980$ shares of common stock outstanding.

using the single$-$step form, prepare an income statement for the year ended June $30,2025$