IGNORING THE TRANSACTIONS YOU RECORDED IN QUESTION 1, assume that the company records the following journal entries in the month of July (these do not correspond in any way to the work you did in question 1): Dr Depreciation Expense 10,500 Cr Accumulated Depreciation Dr Advertising Expense Cr Cash Dr Cash Dr Accounts Receivable Cr Sales Revenue Dr Cost of Goods Sold Cr Inventory Dr Cash Cr Accounts Receivable Dr Wage Expense Cr Cash Cr Wages Payable Dr Retained Earnings Cr Cash 3,500 60,000 100,000 3,500 45,000 20,000 10,500 25,000 160,000 45,000 30,000 20,000 15,000 10,000 30,000 Dr Inventory Cr Accounts Payable Dr Cash Cr Loan Payable Dr Interest Expense Cr Interest Payable Dr Rent Expense Dr Prepaid Rent Dr Rent Payable Cr Cash Dr Equipment Cr Cash Cr Loan Payable Dr Supplies Expense Cr Supplies 55,000 300,000 5,500 5,000 8,000 4,500 55,000 1,500 300,000 5,500 17,500 200,000 150,000 50,000 1,500 Prepare an income statement for Lamia Scale Ltd for the month ended 31 July 2021 (22 marks)