K & L Distributors	Year Ended 31 July 2017
Motor vehicle running expenses	£1,450
Closing inventories	£3,900
Rent payable	£6,500
Motor vans – cost less depreciation	£7,100
Annual depreciation – motor vans	£1,800
Heat and light	£980
Telephone and postage	£490
Sales revenue	£100,000
Goods purchased	£68,500
Insurance	£770
Loan interest payable	£630
Balance at bank	£4,800
Salaries and wages	£10,500
Opening inventories	£4,300

Prepare a financial statement for the year ended 31 July 2017, and include the calculation of gross margin.