Following are the financial statement data for Degen Temporary Services at December 31, 2016. Prepare Degen's income statement. Accounts Payable Accounts Receivable Cash Common Stock 1 MC.01-061 MC.01-077 3 EX01-097 $850 780 425 600 200 75 1.500 370 525 MC 01-083 5. EX.01-098 6. MC.01-068 EX01-092 8. EX.01-096 9. MC.01-101 10. MC.01-078 11EX01-099 12 MC 01-060 13. MC.01-071 14 MC.01-074 15 EX01-035 Insurance Expense Office Equipment Retained Earnings, January 1, 2016 Salaries Expense Notes Payable Service Revenue Inventory Supplies Expense ,750 50 Degen Temporary Services Income Statement For the Year Ended December 31, 2016 1750 V Service revenue 525 V 50 Supplies expense Totsi expenses Net incom Check My Work