The following information relates to Purple Company for the…

The following information relates to Purple Company for the year 2021. Retained Earnings, January 1, 2021 $ 44,000    Rent expense  $11,500                                         Supplies expense      $19,500 Unearned Revenue $17,500 Dividends during 2021  $ 5,700 Revenue $140,000    Accounts Payable $43,000 Utilities expense $ 5,500 Salaries and wages expense $51,000 Depreciation expense $3,500 Inventory  $100,000 Accounts Receivable $6,730     Prepare an Income Statement for Purple Company for December 31, 2021