The Wizard's Corner, a company that sells video games and related items, had the following account balances at the end of June 2020: Cost of goods sold $103,900 Common shares 38,600 Advertising expense 8,000 Equipment 11,000 Depreciation expense 1,100 Dividends declared 3,860 Accounts payable 14,300 Inventory 27,600 Wages expense 35,100 Sales revenue 197,300 Accounts receivable 18,300 Rent expense 12,300 Cash 50,440 Prepaid rent 3,400 Wages payable 3,300 Retained earnings (as at 21,500 July 1, 2019) (a) Prepare a statement of income for the year ended June 30, 2020. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)