The income statement for the year ended 30 June 2022 and the balance sheet as at 30 June 2022 for Bobby Leeman Co. are shown below: Bobby Leeman Income Statement for the year ended 30 June 2022 ($) Sales revenues (net) 50,000 Cost of goods sold (25.000) Gross profit 25,000 Expenses Selling expenses 6,000 General administrative 3,500 expenses Interest expenses 500 Total expenses (10.000) Net income 15,000