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The income statement account balances on December 31, 20xx, for Jaymax Company appear below. In addition, ending merchandise inventory was $2,000. Sales $80,000 Cost of

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The income statement account balances on December 31, 20xx, for Jaymax Company appear below. In addition, ending merchandise inventory was $2,000. Sales $80,000 Cost of Merchandise Sold 35,000 Selling Expenses 2,500 General & Administrative Expenses 4,000 Interest Expense 1,000 Dividend Income 3,000 REQUIRED: In the space below, prepare the 20xx income statement for the company

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