Starr Co. had sales revenue of $540,000 in 2020. Other items recorded during the year were:

Cost of goods sold...................................................$330,000
Salaries and wages expense.....................................120,000
Income tax expense.....................................................25,000
Increase in value of company reputation..................15,000
Other operating expenses...........................................10,000
Unrealized gain on value of patents...........................20,000

Prepare a single-step income statement for Starr for 2020. Starr has 100,000 shares of stock outstanding.