Part 2: Below is a fact scen ario. Using the box provided to the right, prepare an income statement for Tiffany's Catering Service for the five months ending May 31, 2019, demonstrating that Tiffany earned income of $61, 130 Assume the comp any will not be subject to income tax. During the second semester of her senior year, Tiffany decided to open a catering service business. She started business on January 1. She rented a small kitchen space and purchased a stove, supplies, and food. To acquire these items, she invested some of her own money and she borrowed from the bank by signing a note payable promising to pay interest every five months with the first interest payment due May 31. The principal would be due the fol lowing March. At the end of the 5 months she had no supplies or food left over. A review of the checkbook showed the following: Bank deposits of collections from customers totaled $88,000. The following checks had been written: disposable plates and utensils, $5,300; food, $7,300; buying a used stove $14,000, repairs to her stove, $1,500; workers' wages, $8,000; interest on the loan, $400; phone bill, $200; rent, $970; utilities, $300. A notebook kept in the kitchen reflected the following: Customers still owed her $3,600 for catering services already rendered and she owed $4,500 for disposable plates and utensils (credit card charges). In addition, Tiffany estimated that she used up one seventh of the stove during the five months ended May 31, 2019