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 2019. Cost of sales $86,200 Inventory, 30 June 2019 10,140 Selling and distribution expenses 27,490 Sales 137,600 Sales returns and allowances 3,260 Administrative expenses 9,030 Freight inwards Finance expenses 1,140 1,700 Gilberton Retail Income statement for the year ended 30 June 2019