Prepare the income statement [10 min]Elegant Arrangements Corporation has just completed o...

Prepare the income statement [10 min]

Elegant Arrangements Corporation has just completed operations for the year ended December 31, 2012. This is the third year of operations for the company. As the sole-shareholder, you want to know how well the business performed during the year. To address this question, you have assembled the following data:

Requirement

1. Prepare the income statement of Elegant Arrangements Corporation for the year ended December 31, 2012.