QUESTION $5$

The following financial information relates to Grand Investment:

$\backslash$table$[[$Details$,$Pula Amount$],[$Capital$,83887],[$Trade accounts receivable,$24500],[$Purchases$,135680],[$Sales$,259870],[$Trade accounts Payables,$19840],[$Returns out,$],[$Allowance for doubtful debts,$13,407],[$Discount allowed,$512],[$Discount received,$2306],[$Returns inwards,$1750],[$Carriage outwards,$5,624],[$Drawings$,4562],[$Carriage inwards,$18440],[,11830]]$

$\backslash$table$[[$Rent $,$rates and insurance,$25973],[$Heating $,$stationery and telephone,$11010],[$Advertising$,2410],[$Salaries and wages,$38521],[$Bad Debts,$2008],[$Cash in hand,$534],[$Cash at bank,$4440],[$Inventory as at $1$ May $2016,15654],[$Fixtures and fittings $-$ at cost$,120740],[$Accumulated depreciation $1$ May $2016,63020],[$Depreciation$,12074]]$

Required:

$($a$)$ Prepare an Income Statement for the business for the year ended $30$ April, $2024.$

$(28$ marks$)$