Assignment no. 3 Required: Prepare an Income Statement of Company Alfex as at 31 Dec. 2020 using following information: a) Cost of sale of finished goods 40 000 b) Retained profits from previous years 10 000 c) Administrative cost 9 000 d) Sales revenue on sale of finished goods 29 000 e) Discount on the sale of finished goods 1 000 f) Income from scraping of manufacturing machine 4 000 g) Donation provided to social cause 6 000 h) Prepayment to employees 200 i) Income tax 9%