The following list of accounts for BUHO, Inc. is available at the end of December 2020. Make a summary of Income Statement from the given information below with the following required data. 1. Calculate the net turnover. 2. Calculate the consumption of goods for sale 3. Prepare the Income Statement of BUHO, Inc. for the year 2020 ACCOUNT Advertisement expenses Change in inventory of goods for sale (increase) Discount for volume of sale Grants, donations and legacies transferred to income for the year Income tax Insurance expense Intangible assets depreciation expense Interest from long term loans to other companies Interest of debt from financial institutions Losses for uncollectible accounts Losses from disposal of tangible fixed assets Losses from impairment of inventory of goods for sale Losses from impairment of trade accounts receivable Purchase of goods for sale Purchase returns of goods for sale Rent revenue Repairs and conservation Revenue form holdings in equity instruments, other companies Reversion of impairment of trade accounts receivable Sale of goods for sale Social security in charge of the company Tangible assets depreciation expense Wages and salaries Work performed for own assets AMOUNT 25,500 1,700 250,000 112,000 13,500 44,500 110,800 125,000 1,120,000 21,200 22,640 5,800 23,600 10,854,000 130,000 54,800 69,600 51,200 92,000 36,109,440 198,000 630,000 3,840,000 45,000