The following information relates to the activities of H & S Retailers for the year ended 30 April 2009:

Prepare an income statement for the year ended 30 April 2009.

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Motor vehicle running expenses Closing inventories 1,200 3,000 Rent and rates payable 5,000 Motor vans-cost less depreciation 6,300 Annual depreciation - motor vans 1,500 Heat and light 900 Telephone and postage 450 Sales revenue 97,400 Goods purchased 68,350 Insurance 750 Loan interest payable 620 Balance at bank 4,780 Salaries and wages 10,400 Opening Inventories 4,000