The following information is available from the accounting records of DeWitt Engineering Ltd. for the year ended June 30, 2021:

Fee discounts and allowances

$26,000

Fee revenue

1,560,000

Interest revenue

6,000

Other operating expenses

590,000

Salaries expense

750,000

Gain on fair value adjustments on equity investments

31,000

Instructions Prepare a combined Statement of Income and Comprehensive Income for the year ended June 30, 2021. The company has a 30% income tax rate and records gains and losses on equity investments as other comprehensive income.