Problem 2-3A You are provided with the following information for Ramirez Enterprises, effective as of its April 30, 2014, year-end.

Accounts payable $ 876

Accounts receivable 966

Accumulated depreciationequipment 670

Cash 1,426

Common stock 1,368

Cost of goods sold 1,102

Depreciation expense 293

Dividends 367

Equipment 2,576

Income tax expense 207

Income taxes payable 177

Insurance expense 252

Interest expense 442

Inventory 1,123

Land 3,256

Mortgage payable 3,656

Notes payable 217

Prepaid insurance 102

Retained earnings (beginning) 1,600

Salaries and wages expense 658

Salaries and wages payable 264

Sales revenue 5,256

Stock investments (short-term) 1,314

Prepare an income statement for Ramirez Enterprises for the year ended April 30, 2014.