Starr Ltd. had sales revenue of £540,000 in 2019. Other items recorded during the year were:
Cost of goods sold..............................£330,000
Selling expenses...................................120,000
Income tax..........................................25,000
Increase in value of employees...................15,000
Administrative expenses...........................10,000
Prepare an income statement for Starr for 2019. Starr has 100,000 shares outstanding.