The following information was taken from Riddell Ltd's adjusted trial balance as at April 30, 2020: Sales revenue Interest revenue Utilities expense Insurance expense Cost of goods sold Distribution expenses Administration expenses Depreciation expense Interest expense Income tax expense Dividends declared-Common shares Dividends declared-Preferred shares $1,063,000 6,300 23,000 6,500 393,310 237,690 91,000 60,000 18,400 54,900 17,500 22.500 Prepare a single-step statement of income for the year ended April 30, 2020.