G & H Traders	Year Ended 31 December 2020
Vehicle running costs	£1,600
End inventory	£4,500
Rental costs	£6,400
Vans – cost less depreciation	£7,500
Annual depreciation – vans	£1,900
Utility expenses	£970
Postal and telephone costs	£530
Total sales	£102,000
Purchase costs	£68,500
Insurance premiums	£780
Loan interest expenses	£640
Cash in bank	£4,900
Employee wages	£10,800
Opening inventory	£4,400

Prepare an income statement for the year ended 31 December 2020, and calculate the total operating expenses and net profit.