H&S Retailers is a small but successful business in the process of preparing end-of-year financial statements. Presented below is a list of account balances for 30 June 2019. $ Cash 4,200 Other expenses 2,400 Cost of sales 142,500 Accounts receivable 5,900 Equipment 35,000 Accumulated depreciation - vehicle 21,000 Accounts payable 11,800 Insurance expense 8,800 Bank loan, payable 31 December 2028 135,000 Inventory 62,100 Utilities expense 17,400 Capital 46,200 Administration expense 3,247 Sales revenue 298,000 Drawings 18,500 Rental income received in advance (received for the year 15,000 ending 30 June 2020) Interest payable 500 Additional Information: 1. Equipment purchased at the start of the year costing $35,000 with a useful life of 5 years and $5,000 residual value has not been depreciated. 2. The bank loan was taken out on 1 January 2019 at an interest rate of 10%. 3. Advertising costs related to a one-year advertising contract that expires on 30 September 2019. The total amount of the contract is $5,004. 4. Wages paid for the year totalled $92,100. A casual employee is owed for 4 days wages at the end of June 2019. The employee is paid $300 per day. 5. Utility expenses do not include $2,400 of expenses incurred during June 2019. These will not be paid until July 2019. 6. Rental income earned during the year was $10,000. Required: Prepare an income statement for H&S Retailers for the 12 months ended 30 June 2019