$.$Sales Revenue$$1,958,000$Sales Discounts$38,120$Cost of Goods Sold$1,111,220$Salaries and Wages Expense $($sales$)69,210$Sales Commissions$122,080$Travel Expense $($salespersons$)36,340$Delivery Expense$25,920$Entertainment Expense$18,460$Telephone and Internet expense $($sales$)11,620$Depreciation Expense $($sales equipment$)2,590$Maintenance and Repairs Expense $($sales$)7,160$Miscellaneous Selling Expenses$5,970$Supplies Expense$4,960$Telephone and Internet Expense $($administration$)4,460$Depreciation Expense $($office furniture and equipment$)$$$10,200$Property Tax Expense$10,260$Bad Debt Expense $($selling$)6,080$Maintenance and Repairs Expense $($administration$)11,700$Office Expenses$7,000$Sales Returns and Allowances$78,440$Dividend Revenue$48,000$Interest Expense$23,200$Income Tax Expense$125,600$Depreciation Understatement due to Error$-2020($net of tax$)22,960$Dividends $($declared on preference shares$)11,600$Dividends $($declared on ordinary shares$)45,000$The Retained Earnings account had a balance of $$417,000$ at July $1,2021.$ There are $99,200$ ordinary shares outstanding.Prepare income statement for the year ended $30$ June,$2022$