The following trial balance was provided by Jemi Store at 31 December 2021.

Trial Balance as at 31 December 2021

	Debit (RM)	Credit (RM)
Sales Purchases Return inwards Return outwards Inventory at 1.1.2021 Provision for doubtful debts Wages and salaries Rates Telephone Shop fittings at cost Van at cost Premises Account receivables Account payables Bad debts Capital Bank Drawings Carriage Inwards Goodwill Accumulated depreciation: Shop fittings Accumulated depreciation: Van	850,000 30,000 150,000 40,000 8,000 3,000 100,000 120,000 130,000 40,600 400 56,000 6,000 6,000 20,000	1,050,000 50,000 2,000 28,000 400,000 10,000 20,000
	1,560,000	1,560,000

Closing inventory at 31 December 2021 is RM200, 000.

Accrued wages RM10, 000.

Rates prepaid RM2,000.

The provision for doubtful debts to be increased to 10% of account receivables.

Telephone account outstanding RM500.

Depreciate shop fittings 10% per annum, and van at 20% per annum.

You are required to prepare:

Income Statement for the year ended 31 December 2021. (10 marks)