Class Assignment: From the following information prepare the Income Statementof a sole proprietor for the year ended December 31, 2019 Doller ($) Stock (January 1, 2019) Sales Purchases Carriage inwards Freight Inwards Sales Returns Factory Expenses 11,000 Purchases returns 2,500 Carriage outwards 10,000 300,000 200,000 1,500 2,500 5,000 Doller ($) Salaries Commission Paid Commission received Interest paid Interest received Discount Allowed-- Discount received Rent Paid Depreciation on Machines- Miscellaneous Incomes- -10,000 5,000 2,500 3,500 - 2,000 750 250 1,900 6,000 7,000 3,000 The closing Stock of goods as at 31, December 2019 is $ 20,000