The account balances below are taken from the records of Gilberton Retail Prepare an income statement under the perpetual inventory system for the year ended 30 June 2016 Cost of sales Inventory, 30 June 2016 Selling and distribution expenses Sales Sales returns and allowances Administrative expenses Freight inwards Finance expenses S 102 620 12 070 32 730 163 810 3 880 10 750 2 020 1 360 GILBERTON RETAIL Income Statement for the year ended 30 June 2016