30 June Nil Ahmed makes floor lamps and sells them through his website "Lighten Up'. Ahmed's books of account provide the following information: ho 1 July Completed lamps ready for sale $15,000 $27,000 Partly completed lamps $10,000 Materials used in the $24,000 $800 manufacture of the lamp bases and shades Electrical wiring components for $1,500 $2000 each lamp Total purchases of material during the year = $3,000 Total purchases of electrical wiring components during the year = $1.000 Total sales of lamps during the year = $50,000 Required A: (15 marks) What are the income tax consequences for Ahmed considering the information in the table? In your response give reasons and refer to sections of legislation and cases, where relevant