Ryan designs and makes clocks. He sells the clocks through a website. His books of account provide the following information:

	1 July	30 June
Completed clocks ready for sale	$15,000	$27,000
Partly completed clocks	$10,000	Nil
Material for body of clocks	$24,000	$800
Clock mechanisms	$1,500	$2000
Total purchases of material during the year = $3,000
Total purchases of clock mechanisms during the year = $1,000
Total sales of clocks during the year = $50,000
Fees to accountant = $450
Rental of premises = $10,000

Advise Ryan of his income consequences arising from the above information.