Wild horse grove hardware has the following balances in the company ledgers for the year ending December 21 1 mortgage payable 85, 800$ interest expense 8400$ 2 prepaid insurance 3100$ land 22500 3 short te investment 2300 , office salaries 72600 4 common shares 14500 , sales salaries 105 ,000 5 cash 2900 , supplies expense 24,100 6 advertising 50 ,000 , insurance expense 9100 7 accounts receivable 14300 , depreciation expense 21500 8 sales revenue 601,400 , income tax expense 10,600 Accounts payable 16200 , dividend payment 14700 Buildings 100,400 , interest income 11,900 Cost of goods sold 299,900 inventory 20,300 Note payable ( due in 9 months ) 7700 Retained earnings ( beg balance - Jan 1 ) 44,200 Using the above information prepare the statement of income