prepare a income statement by using this template

TRIAL BALANCE AS AT 30 JUNE 2020 Debit ($) 15,121 Credit ($) 400 204 22,456 17,200 1,065 400 10,480 1,518 755 5,800 400 Cash at Bank Accrued Rent Allowance for Doubtful Debts Shop Shelving Office Operating Expense Interest Expense Depreciation Exp - Motor vehicle Inventory (1 July 2019) Prepaid Insurance Freight Inwards Expense Accumulated Depreciation - Shop Shelving Discount Received Rent Expense Office Furniture and Fittings Delivery Expense Accounts Receivable Insurance Expense - Office Wages Expense Accumulated Depreciation - Motor vehicle Motor Vehicle Accounts Payable Doubtful Debts Expense Loan (repayable 1 Oct 2027) Sales Accumulated Depreciation - Office Furniture & Fittings Mr Dinkley, Capital (1 July 2019) Depreciation Exp - Office Furniture & Fittings Mr Dinkley, Drawings Advertising Expense Sales Returns & Allowances Depreciation Exp - Shop Shelving Discount Allowed Purchases 17,800 6,400 360 16,341 240 52,600 400 8,000 3,620 204 1 9 ,200 154,581 1,900 43,910 S640 7,200 1,815 190 1,000 230 38,400 220,415 Totals 220,415 Mr Dinkley has provided the following additional information to assist you with your statement preparation: The stocktake performed at 30 June 2020 recorded an ending inventory balance of $11,000. The Wages account balance is comprised of $28,930 for Selling & Distribution and $23,670 for Administration The Rent expense is split 50% for the office premises and 50% for the shop premises. REQUIRED: Using the template provided on the following page, prepare a fully classified Income Statement for the year ending 30 June 2020. o e