prepair the adjusted consolidated income statement for the year 2019 in this chart:

Question 2. 7 Marks The following shows thetrial balance for the main center and branch on 31/12/2019. Branch Account name Center Dr Cr Dr Beginning Inventory 4000 6000 Purchases 29000 71000 Sales 74000 106000 Transferred/received inventory 15600 15600 Purchases Returns 1200 1400 Sales returns 400 3600 Fright in expenses 3000 7400 Rent expense 4400 8400 Salaries expense 5200 12000 Sales/purchase discount ! 400 400 600 800 Accounts receivable 1 0000 2 0000 Allowance for doubtful accounts - 1000 Accounts payable 15200 2800 Note receivable/payable 6000 8000 - Cash 10000 19400 Center | 11200 Branch 11200 | Dividends 2000 Property Plant & Equipment 26000 32000 Share Capital 74000 Total 108000 108000 201600 201600 Additional information: 1. Ending inventory is 25,000 at the center and 16,800 at the branch. 2. Under the percentage of receivables method, allowance for doubtful accounts is 10%. 3. Depreciation on Equipment is 25% using the straight line method. There is no previous balance for accumulated depreciation. 4. Salaries not yet paid in branch for 400. Instruction: Prepare the adjusted consolidated Income statement for the year 2019. Consolidated Income Statement Year ending 2019 Statement Branch Center Consolidated Total sales Sales returns Sales discount Net sales Cost of goods sold Gross profit (Rent Expense) (Salaries expense) (Bad debt expense) (Depreciation expense) Net income