Please do not give solution in image format thanku Show the income statement presentation of the revenue and expense accounts for the year ended December 31.RIDGEWOOD IMPORTS INC.Statement of Income (partial)December 31.2021CashCashLess : Accumulated Depreciation EquipmentTotal revenuesOther revenues and expensesLess : Accumulated Depreciation EquipmentTotal revenuesOther revenues and expenseseTextbook and MediaList of Accounts41000 At January 1, 2021, Ridgewood Imports Inc. reported the following on its statement of financial position:Accounts receivableAllowance for doubtful accounts4During 2021, the company had the following summary transactions for receivables:$1,898,000128,0001. Sales on account, $5,832,000; Cost of goods sold, $3,202,000; return rate of 2%2.Selling price of goods returned, $92,000; cost of goods returned to inventory, $49.200Collection of accounts receivable, $5,832,000Write offs of accounts receivable deemed uncollectible, $170,000Collection of accounts previously written off as uncollectible, $78,600After considering all of the above transactions, total estimated uncollectible accounts, $112,6005.6.

Income statement refers to the statement which states the net profit or loss for the period of the…

Accounts receivable Allowance for doubtful accounts $1,898,000 128,000 4 During 2021, the company had the following summary transactions for receivables: 1. 2. Sales on account, $5,832,000; Cost of goods sold, $3,202,000; return rate of 2% Selling price of goods returned, $92,000; cost of goods returned to inventory, $49.200 3. Collection of accounts receivable, $5,832,000 Write offs of accounts receivable deemed uncollectible, $170,000 Collection of accounts previously written off as uncollectible, $78,600 5.