Prepare an income statement for Hansen Realty for the year ended December 31, 2020. Beginning inventory was $1,245. Ending inventory was $1,597. (Input all amounts as positive values.) Sales $ 34,600 Sales returns and allowances 1,089 Sales discount 1,149 Purchases 10,362 Purchase discounts 537Depreciation expense 112 Salary expense 5,050 Insurance expense 2,450 Utilities expense 207 Plumbing expense 247 Rent expense 177 $ 32,362 $ 32,362HANSEN REALTY Income Statement For Year Ended December 31, 2020 Net sales Cost of merchandise (goods) sold Gross profit from sales Operating expenses: Insurance 2,450 Utilities 207 Plumbing 247 Rent 177 Salary 5,050 Depreciation 112 Total operating expenses 8,243 24,119 $
