These financial statement items are for Oriole Company at year-end, July 31, 2022.

Salaries and wages payable $2,500
Salaries and wages expense
50,500
Utilities expense
23,000
Equipment 22,000
Accounts payable 4,200
Service revenue
60,000
Rent revenue
8,600
Notes payable (due 2024)
1,650
Common stock
19,000
Cash 22,500
Accounts receivable
12,640
Accumulated depreciation—equipment
5,800
Dividends
5,700
Depreciation expense
4,000
Retained earnings (beginning of the year)
38,590
(a1)
Prepare an income statement for the year ended July 31, 2022. (Enter loss with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)