Prepare an income statement and a statement of retained earnings for Big Sky Corporation for the year ended June 30, 2003, based on the following information:

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$150,000 Retainedjoarhings;idulyel, 20022.) suinaae ela heeky ale! hatin. 76,800 DIVAGONdSs sito Sele WL tiic ky 5A eh, Rese doth ae ded sy ok ; 6,500 SRNFANTE) MOVENUGl: gevensys .$dae-iautee ott. whose) « tame} 6 as 77,900 Expenses: Rentsexpense. wave: ears . 4d bath GARE Rice oem Te BL eo ea $ 6,000 SalaniGSieXDENSE 2 vse bea canmsun of SAUL PS ERNE ey cect ces 38,600 WILLS TEXD ENS ER tat ce osc ney Pik hol eek Ga eae eer oe eee 2,400 AAVETLSING CXPONSCknsn 2.0 10.0 Rae uiste neck eee Rote eile 7,500 Miscellaneous Expense, aia.cacscerrmnne ede eee enya ee eens 7,700 INCOME TAXeS¥. aghast hy tiah a Marc gnakce peel Wan Ree eT Ee 2,100 64,300