Consider the following transactions and then prepare income statement in the book of General Motor on 31/12/2019. Cash Sales 10000 Credit Sales 5000 Interest on Deposits 30000 Profit on sales of fixed assets 7000 Profit on sales of investments 8000 Insurance claim 5000 Duty drawback 6000 Discount allowed 1000 Royalty fees 500 Interest on loan 400 Interest on capital 1200 Discount on bill 1000 Bank charges 600 Loss by fire/accident/theft 7000 Loss on sales of fixed assets 3000 Purchase 20000 Office supplies expenses 3000 Cash discount received 1000 Custom duties 1000 Freight outward 1200 Insurance premium 500 Brokerage expenses 1500 Depreciation expenses 2000