The following selected accounts from Kai Corporation's general ledger are presented below for the year ended December 31, 2021: Accounts payable $98,000 Equipment $1,664,000 Accounts receivable 148,000 Income tax expense 132,000 Accumulated depreciation-equipment 573,000 Insurance expense 128,000 Cash 12,000 Inventory 374,000 Common shares 300,000 Prepaid expenses 45,000 Cost of goods sold 1.925,000 Retained earnings 676,000 Depreciation expense 278,000 Salaries expense 921,000 Sales 3,980,000 (a) Prepare a single-step statement of income. KAI CORPORATION Statement of Income (Single-step) Year Ended December 31, 2021 Net sales Cost of Goods Sold Expenses Salaries Expense $ Insurance Expense Depreciation Expense exp Income before income tax Income Tax Expense Net income