The following account balances were taken from the adjusted trial balance for Urgent Messenger Service, a delivery service firm, for the fiscal year ended November 30, 20Y1:

Prepare an income statement.

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Depreciation Expense Fees Earned $ 12,200 Rent Expense 990,000 Salaries Expense 5,750 Supplies Expense 6,650 Utilities Expense $ 80,000 502,400 7,150 Insurance Expense Miscellaneous Expense 40,000