The trial balance of PQR Corp. as of December 31, 2023, before adjustments, is as follows:

Account	Debit ($)	Credit ($)
Cash	30,000
Accounts Receivable	35,000
Inventory	40,000
Prepaid Insurance	6,000
Equipment	90,000
Accumulated Depreciation		25,000
Accounts Payable		30,000
Salaries Expense	30,000
Rent Expense	8,000
Sales Revenue		80,000
Cost of Goods Sold	45,000
Income Tax Expense	15,000

Additional adjustments:

• Depreciation expense for the year was $25,000.
• Accrued salaries expense at the end of the year amounted to $5,000.
• Prepaid insurance was adjusted to reflect $5,500 used during the year.

Required:

• Prepare an adjusted trial balance for PQR Corp. as of December 31, 2023.
• Prepare an income statement.
• Calculate the net income after taxes.