The following trial balance was extracted from the books of Mr. Ahmed Al Saadi as at 31 May 2020. ACCOUNT Capital Sales Sundry Creditors Drawings Cash in hand Cash at Bank Wages Purchases Stock at 1.04.2019 Buildings Sundry Debtors Bills Receivable Rent Commission General Expenses Furniture Computer Total DEBIT CREDIT $ $ 200,000 160,000 46,000 40,000 17,000 65,000 10,000 20,000 60,000 100,000 44,000 29,000 4,500 2,500 8.000 5,000 1,000 406,000 406,000 You are given the following additional information: Stock valued at 31" May 2020 $40,000 (11) Wages to be paid $1,000 (iii) Furniture is to be depreciated at 12% per annum. (iv) Rent Prepaid $900. Prepare the Income Statement for the year ended 31" May,2020