The following selected accounts and account balances were taken from the records of Nowell Company. Except as otherwise indicated, all balances are as of December 31, 2016, before the closing entries were recorded.

Consulting revenue $ 9,500

Cash 8,400

Cash received from common stock issued during 2016 3,600

Travel expense 700

Dividends 1,800

Cash flow from investing activities 2,200

Rent expense 1,950

Payment to reduce debt principal 21,200

Retained earnings, January 1, 2016 14,200

Salary expense 2,600

Cash flow from operating activities 2,450

Common stock, December 31, 2016 8,900

Other operating expenses 1,600

2.value:

4.00 pointsRequired information

Required

a. Prepare the income statement Nowell would include in its 2016 annual report