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2. Eunice is the owner of The Jewellery Store. She has supplied the following Income Statement and comparative Balance Sheets for 2019 and 2020
2. Eunice is the owner of The Jewellery Store. She has supplied the following Income Statement and comparative Balance Sheets for 2019 and 2020 to be used to complete the Cash Flow Statement Sales Cash Credit Sales Returns Cost of Goods Sold Inventory 1/7/19 Credit Purchases Cartage Inventory 30/6/20 Gross Profit Discount Received THE JEWELLERY STORE Income Statement for year ended 30 June 2020 Operating Expenses Wages Depreciation on office equipment Depreciation on delivery vehicles Insurance General office expenses Bad Debts Interest on mortgage Net Profit S 20 000 90 000 (2.500) 87 500 107 500 8.000 22 000 1500 31 500 (12 000) 19 500 88 000 2 200 90 200 50 000 1100 5000 4.500 7100 4000 10 500 (82 200) $8.000
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