From the partial worksheet shown below, prepare a formal income statement for Serena’s Pie and Kite Shop of Yarmouth.

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SERENA'S PIE AND KITE SHOP PARTIAL WORKSHEET FOR THE YEAR ENDED SEPTEMBER 30, 2021 Sales Sales Returns and Allowances Sales Discounts Cost of Goods Sold Rental Income Advertising Expense Depreciation Expense, Equipment Cleaning Expense Insurance Expenses Rent Expense Salaries Expense Utilities Expense Account Titles Net Income Income Statement Dr. 83450 34475 2113286 135250 875 00 240000 36875 720000 114 58 60 254260 Cr. 53 568 25 180000 48 509 56 55 368 25 685869 553 68 25 55 3 6 8 25