The information below relates to the operations of Pharoah Corporation, a private company following ASPE, for the year ended December 31, 2020:

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The information below relates to the operations of Pharoah Corporation, a private company following ASPE, for the year ended December 31, 2020: Cost of goods sold $330,000 Interest expense 2,100 Sales returns and allowances 9,200 Accounts payable 119,600 Sales discounts 3,500 Depreciation expense 284,440 Sales revenue 983,700 Salaries and wages expense 163,100 Prepaid expenses 3,700 Rent expense 38,800 Loss from fire 8,100 Rental revenue 23,400 Additional information: . The effective tax rate is 20%. Prepare a single-step income statement in good form by nature. (Round answers to decimal places, eg. 5,275.) Pharoah Corporation Income Statement For the year ended December 31, 2020 > GA ( v