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TAMWORTH TRADING LTD INCOME STATEMENT FOR THE MONTH ENDED 30 JUNE INCOME Net Sales (10100 x $5) $50,500 Less : Cost of sales Less: Inventory

TAMWORTH TRADING LTD

INCOME STATEMENT

FOR THE MONTH ENDED 30 JUNE

INCOME

Net Sales (10100 x $5)

$50,500

Less: Cost of sales

Less: Inventory loss (or Inventory shortage expense)

$22,420

$225

GROSS PROFIT

$27,855

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