Income statement preparation $$Cathy$$ Chen, a$$ self$-$employed certified public accountant$($CPA$),$ just completed her first full year in business. During the$$ year, she charged her clients $ $363$ comma $000$ for her accounting services. She had two$$ employees, a bookkeeper and a clerical assistant. In addition to her monthly salary of $ $8$ comma $040,$ Ms$.$ Chen paid annual salaries of $ $47$ comma $700$ and $ $35$ comma $800$ to the bookkeeper and the clerical$$ assistant, respectively. Employment taxes and benefit costs for Ms$.$ Chen and her employees totaled $ $34$ comma $100$ for the year. Expenses for office$$ supplies, including$$ postage, totaled$$$ $10$ comma $900$ for the year. In$$ addition, Ms$.$ Chen spent $ $17$ comma $200$ during the year on$$ tax$-$deductible travel and entertainment associated with client visits and new business development. Lease payments for the office space rented$($a tax$-$deductible$$ expense$)$ were $ $2$ comma $730$ per month. Depreciation expense on the office furniture and fixtures was $ $15$ comma $100$ for the year. During the$$ year, Ms$.$ Chen paid interest of $ $14$ comma $900$ on the $ $123$ comma $000$ borrowed to start the business. Her average tax rate for the year was $30\%.$

a$.$ Prepare an income statement for$$ Cathy's business for the year.

b$.$ Evaluate her financial performance for the year.