View Policies Current Attempt in Progress These financial statement items are for Sunland Company at year-end, July 31, 2020. Salaries and wages payable $2,200 Notes payable (long-term) $1,700 Salaries and wages expense 52,000 Cash 13,600 Utilities expense 22,300 Accounts receivable 9,700 Equipment 30,300 Accumulated depreciation-equipment 6,000 Accounts payable 4,500 Owner's drawings 4,300 Service revenue 60,700 Depreciation expense 3,900 Rent revenue 8,700 Owner's Capital (beginning of the year) 52,300 (a1) Prepare an income statement for the year. The owner did not make any new investments during the year. (Enter negative amounts using either a negative sign preceding the number eg-45 or parentheses eg. (45).) eTextbook and Media SUNLAND COMPANY Income Statement $ $