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Below is financial data for Mila's Law Firm owned by Mila, G. at 30 June 2021; Cash at bank Motor vehicle $29,000 $15,000 Salaries payable

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Below is financial data for Mila's Law Firm owned by Mila, G. at 30 June 2021; Cash at bank Motor vehicle $29,000 $15,000 Salaries payable Mila, capital 17,000 5,000 contribution Accounts receivable 17,000 office expense 2,600 Insurance expense 16,000 Advertising expense 20,000 Accounts payable 12,000 salaries expense 55,000 Service revenue 220,000Mila, G drawings 20,000 Loan payable 60,000 Travel expense 3,500 Prepaid insurance 2,000Court filing fees 4,000 Office equipment 45,000 Required: Using the template below prepare an income statement for the business for the year ended 30 June 2021. (10 marks)

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