Prepare an income statement of Walmart for the month of May based on the following:

• On May 1, owners of the firm invested $10,000 in the firm to expand the firm.
• During May the firm delivered products and billed customers for those deliveries amounting to $50,000. The customers paid $20,000 of this billed amount during May.
• To manufacture these products the firm had to buy materials worth about $30,000 - $20,000 of which got sold and the remaining $10,000 worth of materials were in the firms warehouse at the end of May.
• In April the firm had paid rent for premises of $6,000 which represented rent for 2 months, April and May.
• During May the firm paid salaries to employees for work done during May - $2,000.
• On May 30, the firm received a bill for utilities for the month of May, $1,000. The firm plans to make the payment for these on June 10th (due date).