Johnson & Johnson	Transactions for the Year Ended 30 September 2021
Transaction	Amount (£)
Sales revenue	220,000
Cost of goods sold	140,000
Salaries and wages	30,000
Rent expense	16,000
Depreciation expense	7,000
Utilities expense	9,000
Insurance expense	5,000

Requirements:

1. Prepare an income statement for Johnson & Johnson for the year ended 30 September 2021.
2. Calculate the gross profit and net profit.
3. Determine the total operating expenses and net earnings.