Rafael Ron trades as Goal Company He buys and sells professional soccer balls For the April of 2017, the following details of his business are available Opening inventory of balls (on 1 st April 2017) 150 pieces at a total cost of 1,200 Purchased in April 180 pieces of balls at 7 5 each During April he sold 190 pieces for 17 each (3,230 in total) Closing stock is valued at 7 5 per piece Rent for the storehouse is paid in advance the fee is 420 every 6 months His assistant, Amy, receives 200 every 4 months Postage costs were 1500 every 4 months On 10 th of May the Goal Company received the 800 invoice of the firms marketing advisor in connection with services provided in April Show your calculations and answer the following questions 5 1) Prepare an Income Statement for Rafael Rons business for the month of April 2017 5 2) Due to Covid, the management of the company decided to improve increase profitability of the company As a financial adviser what business transactions would you recommend to the management and how this would affect the company

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Rafael Ron trades as Goal Company . He buys and sells professional soccer balls. For the April of 2017, the following details of his business

Rafael Ron trades as Goal Company. He buys and sells professional soccer balls. For the April of 2017, the following details of his business are available:

Opening inventory of balls (on 1^st April 2017): 150 pieces at a total cost of 1,200
Purchased in April: 180 pieces of balls at 7.5 each
During April he sold 190 pieces for 17 each (3,230 in total)
Closing stock is valued at 7.5 per piece
Rent for the storehouse is paid in advance: the fee is 420 every 6 months.
His assistant, Amy, receives 200 every 4 months
Postage costs were 1500 every 4 months..
On 10^th of May the Goal Company received the 800 invoice of the firms marketing advisor in connection with services provided in April.

Show your calculations and answer the following questions

5.1) Prepare an Income Statement for Rafael Rons business for the month of April 2017.

5.2) Due to Covid, the management of the company decided to improve/increase profitability of the company. As a financial adviser what business transactions would you recommend to the management and how this would affect the company.