Required information Use the following information for problem 3 to 5 LO P2 As of December 31, 2019, Armani Company's financial records show the following items and amounts. Cash Accounts receivable $10,500 9,500 Supplies 6,500 Equipment 5,500 Accounts payable 12,000 Common stock 14,500 Retained earnings, Dec. 31, 2018 3,500 Retained earnings, Dec. 31, 2019 5,500 Dividends 13,500 Consulting revenue 34,000 Rental revenue 23,000 Salaries expense 20,500 Rent expense 12,500 Selling and administrative expenses i 8,500 Problem 1-3A Preparing an income statement LO P2 Required: Prepare the 2019 year-end income statement for Armani Company. ARMANI COMPANY Income Statement For Year Ended December 31, 2019 Revenues Consulting revenue Rental revenue $ 34,000 23,000 ces Total revenues $ SA Expenses Salaries expense 20,500 Rent expense 12,500 Selling and administrative expenses 8,500 Total expenses 57,000 41,500