Prepare a formal income statement from the partial worksheet for Wright Co. in Figure 12.16.

WRIGHT co. PARTIAL WORKSHEET FOR YEAR ENDED DECEMBER 31, 201x Income Statement Account Titles 41000 2 3000 28 50 00 Income Summary Sales Sales Returns and Allowances Sales Discount Purchases Purchases Returns and Allow Purchases Discount Freight-In Salaries Expense Insurance Expense Advertising Expense Rental Income Rent Expense Dep. Exp., Store Equip. Salaries Payable 1|1|00 6400 89 000 17 5 00 13500 11000 40000 19 000 17500 2 20 00 2 2 500 17000 Totals Net Income Totals $275 300 36 1000 85700 361000 36 1000