Aim Enterprises Ltd does not keep a full set of accounting records. An analysis of the company’s cash transactions for the year ended 30 June 2010 is given below:

(3) Aim’s depreciation policy is to charge depreciation on the straight-line basis as follows, assuming no residual value:

No depreciation is charged in the year of sale of assets, but there is a full year’s depreciation in the year of purchase. [ACCA adapted]
Required: Prepare Aim’s statement of income for the year ended 30 June 2010. [ACCA adapted]

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Overdraft, 1 July 2009 Cash banked Reference to Notes Receipts Payments $34 200 1 $418 200 2,3 4 500 Proceeds of sale of old motor van Payments for purchases New motor van purchased 1 January 2010 3 Rent and general expenses Dividends Overdraft, 30 June 2010 316 300 22 000 47 400 80 400 77 600 500 300 500 300 Airn's other assets and liabilities at the beginning and the end of the year ended 30 June 2010 were: