At the end of December 31, 2012, Cougar Inc.’s accounts are as follows:

Office salaries ............... $30,000

Finance costs ..............3,000

Depreciation (administration) ........2,000

Cost of sales ................ 300,000

Income tax expense ........... 35,000

Sales salaries ............... 40,000

Interest income .............. 6,000

Gross revenue ................ 520,000

Advertising .............. 10,000

Lease (administration) ............ 3,000

Promotional expenses .......... 2,000

Sales discounts .............. 20,000

Travel expenses ............ 3,000

Rental charges .............. 5,000

Prepare Cougar Inc.'s statement of income for the year ended December 31, 2012.