The following transactions relate to the activities of Cash Hard Ware for the year ended 30 April. Rent received from subletting 5,000 Opening inventories 500 Closing inventories 750 Goods purchased for resale 8,000 Rent and rates 3,500 Motor vehicle running expenses 800 Heat and light 1,800 Insurance 500 Telephone and postage 900 Sales revenue 20,000 Annual depreciation on motor vehicles 1,000 Loan interest paid 500 Salaries & wages 8,000 Taxation 300 Required Prepare an Income Statement