The following selected accounts from High view Electronics Corporations general ledger are presented below for the year ended December 31, 2021: Accounts receivable $249,100 Accumulated depreciationequipment 718,630 Advertising expense 51,700 Common shares 235,000 Cost of goods sold 1,101,680 Depreciation expense 117,500 Dividends declared 141,000 Equipment 1,363,000 Freight out 23,500 Income tax expense 65,800 Insurance expense 21,620 Interest expense 58,280 Interest income 28,200 Inventory 91,180 Prepaid expenses 29,140 Rent income 22,560 Retained earnings 502,900 Salaries expense 662,700 Sales 2,434,130

Prepare a single-step statement of income.