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10. The financial record of Adam Inc were destroyed by fire at the end of 2020. Fortunately, the controller had kept certain statistical data

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10. The financial record of Adam Inc were destroyed by fire at the end of 2020. Fortunately, the controller had kept certain statistical data related to the income statement as below: a. The beginning inventory was OMR 138,000. b. Sales discount was OMR 25,500 c. 45,000 ordinary shares were outstanding. d. Interest expenses OMR30,000 e. Income tax rate 30% f. Cost of goods sold OMR750,000 g. Administrative expenses are 20% of cost of goods sold but only 10% of gross sales. h. Four fifth of the operating expenses related to sales activities. From the foregoing information, prepare an income statement.

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