The following selected accounts from Highview Electronics Corporation's general ledger are presented below for the year ended December 31, 2021: Accounts receivable $ 291,500 Accumulated depreciation equipment 840,950 Advertising expense 60,500 Common shares 275,000 Cost of goods sold 1,289,200 Depreciation expense 137,500 Dividends declared 165,000 Equipment 1,595,000 Freight out 27,500 Income tax expense 77,000 Insurance expense 25,300 Interest expense 68.200 Interest income 33,000 Inventory 106,700 Prepaid expenses 34,100 Rent income 26,400 Retained earnings 588,500 Salaries expense 775,500 Sales 2,848,450 (a) Prepare a single-step statement of income. Highview Electronics Corporation Statement of Income (Single-step) Year Ended December 31, 2021 Revenues Sales $ 2,848,450 Sales Returns and Allowances Sales Discounts $ $ tA A >