These financial statement items are for Sandhill Co. at year-end, July 31, 2022. \begin{tabular}{lr} Salaries and wages payable & $2,560 \\ Salaries and wages expense & 50,400 \\ Utilities expense & 22,500 \\ Equipment & 22,200 \\ Accounts payable & 4,200 \\ Service revenue & 60,500 \\ Rent revenue & 8,800 \\ Notes payable (due 2024) & 1,700 \\ Common stock & 19,000 \\ Cash & 21,000 \\ Accounts receivable & 12,740 \\ Accumulated depreciation-equipment & 5,100 \\ Dividends & 6,000 \\ Depreciation expense & 4,300 \\ \hline Retained earnings (beginning of the year) & 37,280 \end{tabular} Prepare an income statement for the year ended July 31, 2022. (Enter loss with either a - sign eg. -15,000 or in parentnes15 eg. (15,000)