The following are account balances at the end of December 2024 for Pharoah Co. Cost of...

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The following are account balances at the end of December 2024 for Pharoah Co. Cost of goods sold $97,500 Common shares 34,100 Advertising expense 5,200 Equipment 17,500 Depreciation expense 1,750 Dividends declared 3,410 Accounts payable 12,500 Inventory 29,300 Wages expense 34,400 Sales revenue 161,600 Accounts receivable 10,500 Rent expense 12,800 Cash 16,240 Prepaid rent 4,300 Wages payable 3,000 Ending retained earnings balance (2023) 21,700 (a) Prepare a statement of income for the year ended December 31, 2024. (Enter loss using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Pharoah Co. Statement of Income For the Year Ended December 31, 2024 $ 19 1. $ The following are account balances at the end of December 2024 for Pharoah Co. Cost of goods sold $97,500 Common shares 34,100 Advertising expense 5,200 Equipment 17,500 Depreciation expense 1,750 Dividends declared 3,410 Accounts payable 12,500 Inventory 29,300 Wages expense 34,400 Sales revenue 161,600 Accounts receivable 10,500 Rent expense 12,800 Cash 16,240 Prepaid rent 4,300 Wages payable 3,000 Ending retained earnings balance (2023) 21,700 (a) Prepare a statement of income for the year ended December 31, 2024. (Enter loss using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Pharoah Co. Statement of Income For the Year Ended December 31, 2024 $ 19 1. $