Brookhaven Services is a service company and prepares a single-step income statement. The following adjusted balances relate to the year ended December 31, 2026. The tax rate is 25%.
| Account | Amount |
|---|
| Service Revenue | $320,000 |
| Interest Revenue | 6,000 |
| Salaries and Wages Expense | 150,000 |
| Rent Expense | 40,000 |
| Utilities Expense | 14,000 |
| Depreciation Expense | 20,000 |
| Interest Expense | 6,000 |
Required: Prepare a single-step income statement — group all revenues, then all expenses (including income tax expense), and present net income. Income tax expense is 25% of pre-tax income.