Juan DL Cruz, a single proprietor, keeps track of his business in a cash book, ledgers of customers \& suppliers and a memorandum book. A careful analysis of the data gathered from various sources revealed the following: Tha rach honk revaled the follnwinn information. Aaditional data gatnered trom otner documents avaladie are: 1. The equipment sols had an original cost of P10,000 with accumulated depreciation of P5,000 on the date of sale. 2. Worthless accounts of P400 were written off. 3. Sales discounts granted to customers during the year was P1,500. 4. Purchase discount taken was P1,000. 5. Returned merchandise to suppliers was P700. 6. Details of expenses paid in cash were : rent, P13,200; supplies, P4,800; taxes, P27,000; utilities, P12,000; salaries, P24,000; interest, P500 and other expenses, P17,000. Required: Income Statement for the year ending December 31,202. Juan DL Cruz Business Statement of Profit Juan DL Cruz, a single proprietor, keeps track of his business in a cash book, ledgers of customers \& suppliers and a memorandum book. A careful analysis of the data gathered from various sources revealed the following: Tha rach honk revaled the follnwinn information. Aaditional data gatnered trom otner documents avaladie are: 1. The equipment sols had an original cost of P10,000 with accumulated depreciation of P5,000 on the date of sale. 2. Worthless accounts of P400 were written off. 3. Sales discounts granted to customers during the year was P1,500. 4. Purchase discount taken was P1,000. 5. Returned merchandise to suppliers was P700. 6. Details of expenses paid in cash were : rent, P13,200; supplies, P4,800; taxes, P27,000; utilities, P12,000; salaries, P24,000; interest, P500 and other expenses, P17,000. Required: Income Statement for the year ending December 31,202. Juan DL Cruz Business Statement of Profit