The following are account balances at the end of December $2024$ for Pharoah Co$.$

Cost of goods sold $$103,100$

Common shares $34,500$

Advertising expense $8,200$

Equipment $17,900$

Depreciation expense $1,790$

Dividends declared $3,450$

Accounts payable $13,000$

Inventory $23,900$

Wages expense $37,900$

Sales revenue $165,200$

Accounts receivable $19,700$

Rent expense $11,000$

Cash $11,660$

Prepaid rent $4,900$

Wages payable $8,200$

Ending retained earnings balance $(2023)22,600$

$($a$)$

Prepare a statement of income for the year ended December $31,2024.($Enter loss using either a negative sign preceding the number e$.$g$.-45$ or parentheses e$.$g$.(45).)$