Question $5$ The following financial information relates to Grand Investment: Details Pula Amount Capital $83887$ Trade accounts recievable $24500$ Purchases $135680$ sales $259870$ Trade Account payables $19840$ Returns out $13407$ Allowance for doubtful debts $512$ Discount allowed $2306$ Discount receieved $1750$ Returns inwards $5624$ Carriage outwards $4562$ Drawings $18440$ Carriage inwards $11830$ 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 $201615654$ Fixtures and fittings$-$ at cost $120740$ Accumulated depreciation $1$ May $201663020$ Depreciation $12074$ Required: $($a$)$ Prepare an Income Statement for the business for the year ended $30$ April, $2024.$Question $5$ The following financial information relates to Grand Investment: Details Pula Amount Capital $83887$ Trade accounts recievable $24500$ Purchases $135680$ sales $259870$ Trade Account payables $19840$ Returns out $13407$ Allowance for doubtful debts $512$ Discount allowed $2306$ Discount receieved $1750$ Returns inwards $5624$ Carriage outwards $4562$ Drawings $18440$ Carriage inwards $11830$ 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 $201615654$ Fixtures and fittings$-$ at cost $120740$ Accumulated depreciation $1$ May $201663020$ Depreciation $12074$ Required: $($a$)$ Prepare an Income Statement for the business for the year ended $30$ April, $2024.$Question $5$ The following financial information relates to Grand Investment: Details Pula Amount Capital $83887$ Trade accounts recievable $24500$ Purchases $135680$ sales $259870$ Trade Account payables $19840$ Returns out $13407$ Allowance for doubtful debts $512$ Discount allowed $2306$ Discount receieved $1750$ Returns inwards $5624$ Carriage outwards $4562$ Drawings $18440$ Carriage inwards $11830$ 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 $201615654$ Fixtures and fittings$-$ at cost $120740$ Accumulated depreciation $1$ May $201663020$ Depreciation $12074$ Required: $($a$)$ Prepare an Income Statement for the business for the year ended $30$ April, $2024.$