The income statement account balances on December 31, 20x5, for Janice Company appear below. In addition, beginning merchandise inventory was $3,000 and ending merchandise inventory was $4,000. Prepare a 20x5 income statement for the company.

Account Name Balance Sales $100,000

Sales Returns and Allowances 1,500

Purchases 50,000

Purchases Returns and Allowances 3,000

Freight-In 5,000

Selling Expenses 25,000

General and Administrative Expenses 10,000