The following is the trial balance of Blue Corporation as at 31 Dec. 2018. You need prepare an income statement as at 31 Dec 2018. Blue Corporation Trial Balance as at 31 Dec. 2018 Debit ($) Credit ($) Accounts 52,800 Inventory at 1 January 2019 Sales 276,400 Purchases 141,300 1,350 5,840 Carriage inwards Carriage outwards Returns outwards Wages and salaries 2,408 63,400 3,800 Business rates 714 1,930 1,830 208 Communication expenses Commission paid Insurance Sundry expenses Buildings Accounts receivable Accounts payable Fixtures 125,000 45,900 24,870 1,106 31,420 Cash at bank Cash in hand 276 37,320 Drawings Capital at 1 January 2018 Total 210,516 514,194 514,194 * Inventory at 31 Dec 2018 was $58,440