Prepare an income statement for Mostyn Company for the yesr ended 30 June 2019, given the following account balances.

(a) Prepare an income statement for Mostyn Company for the year ended 30 June 2019, given th following account balances. $ Accounting and audit 4,420 Accounts payable 11,830 1 Accounts receivable 19,500 Accumulated depreciation equipment 124,800 Accumulated depreciation-motor vehicles 83,200 Allowance for doubtful debts 9,500 Bad and doubtful debts 10400 Cash 3,900 Cost of sales 208,000 Depreciation equipment 44,160 Depreciation--motor vehicles 55,850 Equipment repairs 2,080 Heat and light 4,810 Insurance 2,600 Inventory 14,300 Loan 52,000 Loan interest 5,200 Motor vehicle running costs 2,210 Motor vehicles 41,600 I Phone and internet 1,950 Rent and rates 16,120 Royalties received 2,210 Salary and wages 48,100 Sales 464,000