Maloney Co - Income Statement for the year ended 30 June 2019 $ Sales $220,000 Less Cost of Goods Sold $117,700 Gross Profit from Trading $102 300 Less Expenses: Marketing: Advertising $3,900 Wages - Sales $20,000 Depreciation Van $2,100 $26,000 Administrative: Wages - Office $25,000 Insurance $900 Rent $14,100 $40,000 Financial: Discount Allowed | $400 $400 $66,400 Net Profit $35,900