General Electric	Transactions for the Year Ended 30 June 2021
Transaction	Amount (£)
Sales revenue	370,000
Cost of goods sold	220,000
Salaries and wages	52,000
Rent expense	26,000
Depreciation expense	18,000
Marketing expense	13,000
Interest expense	7,500

Requirements:

1. Prepare an income statement for General Electric for the year ended 30 June 2021.
2. Calculate the gross profit and net profit.
3. Determine the total operating expenses and net earnings after interest.