Part 2: Below is a fact scenario. Using the box provided to the right, prepare an Income Statement for Carrie's Catering Service for the year ending December 31, 2020, demonstrating that Carrie earned income of $98,000. Assume the company is not subject to income tax. You are expected to provide at least 5 separate expense accounts. Insert Cells During the spring semester of her senior year, Carrie decided to open a catering business. She created her business in December 2019 by investing $20,000 of her own money and she borrowed $25,000 from the bank by signing a two-year note payable promising to pay interest every 12 months with the first interest payment due December 31, 2020. On January 1, 2020 she rented a small kitchen space and purchased a stove, supplies, and food. At the end of 2020 Carrie had no supplies or food left over. A review of the checkbook showed the following: Bank deposits of collections from customers totaled $125,000. The following checks had been written: disposable plates and utensils, $5,000; food, $14,000; buying a used stove $10,000; workers' wages, $8,000; interest on the loan, $1,500; cell phone bill, $2,500; rent, $7,000. A notebook kept in the kitchen reflected the following: Customers still owed her $15,000 for catering services already rendered and she owed $2,000 for disposable plates and utensils (credit card charges). In addition, Carrie estimated that she used up one fifth of the stove during 2020.