what is other income expenses?

1 On June 30, 2020. Raintree lent a customer $55,000. Interest ar 5' is payable annually on each June 30 Principal is due in 2024 2. The annual insurance payment is made in Bovance on March bi 3. Annual rent on the company's facilities is paid In advance on September 30. Required: 1. Prepare an accrual basis income statement for 2021 (ignore income taxes)! RAINTREE CORPORATION Income Statement For the Year Ended December 31, 202 Sales revenue Cost of goods cold Gross profit 293.000 Operating expenses Insurance expense Salaries expense Rent expense Depreciation expense 20.008 Total operating expenses Operating income Other income (expense) Interest expense 2,750 Net income 253 550