From the partial worksheet shown below, prepare a formal income state- ment for Kate€™s Pie and Kite Shop of Yarmouth:

KATE'S PIE AND KITE SHOP PARTIAL WORKSHEET FOR THE YEAR ENDED SEPTEMBER 30, 2012 Income Statement Account Titles r. Income Summa Sales Sales Returns and Allowances Sales Discounts Purchases Purchases Returns and Allowances Purchases Discounts Freight-In Rental Income Advertising Expense Amortization Expense, Equipment Cleaning Expense Insurance Expenses Rent Expense Salaries Expense Utilities Expense 4257 82 547726 5356825 83450 344 21458 34 55830 23876 47 158 180000 135250 87500 2400 00 36875 720000 1145 8 60 2542 60 5356444 61642 57 Net Income 807813 61642 57 6164257