on Lenny is in the business of selling televisions and related appliances from a building he owns in Sydney. Most customers pay at the time of delivery. His sales for the year ending 30th June 2019 were $2,100,000 During the year ended 30 June 2019 purchases of televisions and related appliances were $1,300,000 and at 30 June 2019 stock on hand was $500,000. Lenny's closing stock for the year ended 30 June 2018 was $200,000 Explain the rules applicable to trading stock and calculate the income he should declare in relation to the facts as stated above for the year ending 30th June 2019. FI