Direct wages 1. From the following information, Prepare Income Statement for the year ended 31* December 2020 ( 4 Marks) Particulars Amount (OMR) Inventory ( 1-1-2020) 10000 4000 Purchases 45000 Sales 95000 Sales discount 3000 Purchases discount 4000 Sales returns 2000 Carriage inwards 4000 Depreciation expense 6000 Interest received 15000 Inventory (31-12-2020) 12000 Salary Expense 5000 Purchase Returns 1000 Advertisement Expense 2000 Carriage outwards 1000