Facebook Inc.	Year Ended 31 March 2021
Motor vehicle running costs	£1,250
Closing inventories	£3,900
Rent costs	£6,200
Delivery vans – cost less depreciation	£7,100
Annual depreciation – delivery vans	£1,750
Utility expenses	£960
Communication and postage	£500
Total sales	£98,000
Cost of goods purchased	£67,200
Insurance premiums	£780
Loan interest expenses	£610
Bank cash	£4,700
Wages and salaries	£10,300
Opening inventories	£4,200

Prepare an income statement for the year ended 31 March 2021, and calculate the gross margin.