The following balances are taken from the books of Len's Landscaping for the year ending 31 December 20XX: Debit Credit Sales 80,000 Cost of goods sold 28,500 Salaries 34,600 Water and electricity 1,900 Insurance 2,800 Cash 23,500 Rent 30,000 Shareholder's capital 52,000 The following additional information is available: Interest is charged at 10% on the principle amount. Note that the company has no debt obligations. The company tax rate is 30%. Prepare an income statement for the year ending 31 December 2016, using the following template: Gross profit Operating expenses Non-operating incomes and expenses Profit before tax