Forta Company Presents You with the Following Account Balances Taken

Forta Company presents you with the following account balances taken from the December 31,2012,trial balance.Required:
Prepare a single-step income statement in proper form. $\begin{array}{llcc} \text {Sales } &\$200,000 \\ \text {Cost of Goods Sold } &80,000\\ \text { Cash} &10,000\\ \text {Selling Expenses } &20,000\\ \text { General and Administrative Expenses} &15,000\\ \text { Interest Income} &3,000\\ \text { Interest Expense } &2,000\\ \text {Accounts Receivable } &15,000\\ \text { Retained Earnings} &60,000\\ \text { Gain on Sale of Property } &2,000\\ \text { Accounts Payable } &15,000\\\end{array}$

Additional data:
1. 10,000 shares of cammon stock were outstanding the entire year.
2. The income tax rate is $35 \%$