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.