Income Staement to be prepared

QUESTION 2: Financial Statement in marks) Mr Dinkley owns "A Page A Day. a well-known and well-stocked bookshop specialising in mystery novels and comic books. He is also a very good friend of Anne Chovi and often refers customers who are holidaying in the Cove to Anne's diving tours. The following Trial Balance for A Page A Day bookshop has been prepared at year end by Mr Dinkley, who likes to keep a hand in the bookkeeping side of the business A PAGE A DAY TRIAL BALANCE AS AT 30 JUNE 2020 Credit 15) Debit 15. 121 22.456 17,200 1 065 400 10,480 1.518 755 17,800 6,400 360 16,341 Cash at Bank Accrued Rent Allowance for Doubtful Debts Shop Shelving Office Operating Expense Interest Expense Depreciation Exp-Motor vehicle Inventory (1 July 2019) Prepaid Insurance Freight Inwards Expense Accumulated Depreciation - Shop Shelving Discount Received Rent Expense Office Furniture and Fittings Delivery Expense Accounts Receivable Insurance Expense - Office Wages Expense Accumulated Depreciation - Motor vehicle Motor Vehicle Accounts Payable Doubtful Debts Expense Loan repayable 1 Oct 2027) Sales Accumulated Depreciation - Office Furniture & Fittings Mr Dinkley, Capital (1 July 2019) Depreciation Exp - Office Furniture & Fittings Mr Dinkley Drawings Advertising Expense Sales Returns & Allowances Depreciation Exp-Shop Shelving Discount Allowed Purchases 52.500 3.620 9,200 1.900 43.910 1815 190 1.000 230 38.400 220,415 Totals 220,415 Mr Dinkley has provided the following additional information to assist you with your statement reaction The stocktake performed at 30 June 2020 recorded an ending inventory balance of $11,000 The Wages account balance is comprised of $28,930 for Selling & Distribution and $23,670 for Administration The Rent expense is split 50% for the office premises and 50% for the shop premises REQUIRED: Using the template provided on the following page, prepare a fully classified Income Statement for the year ending 30 June 2020 INCOME Less: EXPENSES PROFIT