The Gray's Inn has two major operated departments: rooms and food. The following information is supplied to you as of December 31, 2019. Account Rooms department - salaries & wages Account Balance (US$) 200,000 Food Department - salaries & wages 180,000 Supplies and other food department 40,000 Supplies and other - rooms department 100,000 Rooms sales 1,200,000 Interest Income Cost of food sold Food sales Miscellaneous income Food purchases 600,000 50,000 360,000 Other information is as follows: Three years ago, the Gray's Inn invested $200,000 in NY state bonds. Interest is paid on an annual basis at an interest rate of 9% Beginning and ending inventories of food were $8,000 and $9,000 respectively. Food consumed by the food and rooms department employees during the year (free of charge) totalled $2,000 and $1,000 respectively. Fringe benefits and payroll taxes for employees including free food are 20% of gross salaries & wages. Question: Prepare the top portion of the income statement for the Gray's Inn (operated departments section)