Appendix A Industry Projected Income Statement for the period ended 30 June 2023 Sales revenue 2,144,153.03 Cost of sales (1,001,973.99) Gross Profit 1,142,179.04 Wages and salaries (387,989.60) Rental expenses (140,400.00) Depreciation - Equipment (234.517.33) Operating Profit 379,272.12 Interest Expense (15,000.00) Income tax expense (109,281.64) Net Profit 254,990.48 Dividend (76,497.14) Transferred to retained earnings 178,493.34Industry Projected Balance Sheet as at 30 June 2023 ASSETS Cash at bank 52,457.75 Accounts receivable 146,006.61 Inventory 365,032.89 Prepaid rental expenses 88.200.00 Equipment 2,706,533.86 Accumulated depreciation - equipment (1,539,994.82) Patent 75,000.00 Total Assets 1.893.236.29 LIABILITIES AND EQUITY Accounts payable 202,219.92 Wages and salary payable 122,523.03 Bank loan 140,000.00 Share capital 450,000.00 Retained earnings 978.493.34 Total Liabilities and Equity 1.893.236.29