Resolve this problem in excel form:

Rescue Records needs rescuing. The downloading of songs and other media are killing its business. The owners of Rescue want to know if they made a net income or a net loss for the year ended December $31.$ Given the following account balances, prepare an income statement for Rescue similar to Figure $3\mathrm{.}1$Income Statement$.$

Advertising Expense $$4,600$

Salary Expense $$25,470$

Cost of Goods Sold $$109,000$

Sales Revenue $$197,000$

Income Tax Expense $$3,800$

Loss on Sale of Extra shelving units $$4,090$

Rent Expense $$32,000$