Below is financial data for Milas Law Firm owned by Mila, G. at 30 June 2021:

Cash at bank	$15,000	Motor vehicle	$29,000
Salaries payable	5,000	Mila, G capital contribution	17,000
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	220,000	Mila, G drawings	20,000
Loan payable	60,000	Travel expense	3,500
Prepaid insurance	2,000	Court 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)