In the year ended 31 August 2006, the company entered into the following transactions.

Sales: 8,000 mousetraps at $20 each

Factory costs:

1. Components $18,000 (related to the above sales)

2. Labour - three workers at $14,000 each

Other costs:

1. Salaries paid to chief executive and assistant, $20,000 in total (salaries)

2. Wages paid to van driver, $10,000

Loan interest: 10% interest on $50,000 loan

Tax: 35% of profit before tax (round to nearest $000)

Dividends: 50% of post-tax profit

Record these in the Income Statement