1. The following items were taken from the accounting records of a company. Prepare an income statement

1. The following items were taken from the accounting records of a company. Prepare an income statement Accounts Payable 57,000 Long term investments 35,000 Accounts Receivable 30,000 Trademarks 6,000 Utility Expense 7,500 Income Tax Expense 8,500 Cash 15,000 Short-term Notes Payable 35,000 Equipment 76,000 Depreciation 4,800 Retained Earnings 415,000 Interest Receivable 2,000 Prepaid Expenses 12,000 Inventory 80,000 Sales 125,000 Dividends paid 23,000 Salary Expense 25,000 Cost of Goods Sold 58,000