The following information for the year ended December 31, 2016, was reported by Nice Bite, Inc. Accounts Payable Accounts Receivable Cash (balance on January 1, 2016) Cash (balance on December 31, 2016) Common Stock Dividends Equipment Income Tax Expense Interest Expense Inventory Notes Payable Prepaid Rent Office Expense Retained Earnings (beginning) Salaries and Wages Expense Service Revenue Utilities Expense Salaries and Wages Payable $ 52,000 29,800 104,400 89,000 148,000 0 143,700 10,800 30,200 17,900 29, 700 7,700 15,000 9,800 36,400 151,800 25,800 15,000 Other cash flow information: Cash from issuing common stock Cash paid to reacquire common stock Cash paid for income taxes Cash paid to purchase long-term assets Cash paid to suppliers and employees Cash received from customers $ 28,000 31,700 11,700 59,400 91,600 151,000 Required: 1. Prepare an income statement for 2016. NICE BITE, INC. Income Statement For the Year Ended December 31, 2016 0 0