This alphabetized adjusted trial balance is for GalaVu Entertainment as of its December 31, 2020, year-end: Accounts payable Accounts receivable Accumulated depreciation, automobiles Accumulated depreciation, equipment Debit Credit $ 44,200 $ 18,900 69,200 20,700 Advertising expense Automobiles 9,200 142,000 Cash 11,200 Depreciation expense, automobiles 13,400 Depreciation expense, equipment 4,300 Equipment Revenue Interest income Interest expense Interest payable Interest receivable 66,000 243,975 250 3,700 100 John Conroe, capital 200 23,200 John Conroe, withdrawals 19,200 Land 36,000 Long-term notes payable 117,000 Notes receivable (due in 90 days) 81,000 Office supplies 4,200 Office supplies expense 13,200 Repairs expense, automobiles 8,600 Salaries expense 76,425 Salaries payable Unearned revenue 5,700 11,200 Wages expense Totals 28,000 $ 535,525 $ 535,525 Required: Use the information in the trial balance to prepare: a. The income statement for the year ended December 31, 2020.