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These items are taken from the financial statements of Carla Vista Limited for the year...

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Accounting

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These items are taken from the financial statements of Carla Vista Limited for the year ended December 31, 2024: \begin{tabular}{lr} Equipment & 38,400 \\ Income tax expense & 6,960 \\ Long-term investments & 24,000 \\ Retained earnings, January 1 & 40,800 \\ Dividends declared & 4,200 \\ Service revenue & 231,700 \\ Depreciation expense & 6,000 \\ Insurance expense & 2,900 \\ Salaries expense & 174,700 \\ Utilities expense & 4,400 \end{tabular} Additional information: 1. Carla Vista started the year with $30,000 of common shares and issued $24,000 more during the year. 2. Carla Vista must pay $42,100 of the mortgage payable next year in 2025 . Prepare a statement of income for the year. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses e.g. (45).)

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