Danielle is a trader buying and reselling furniture. She supplies the following information relating to the year ended 31 May 2015: $ Inventory 1 June 2014 27268 Inventory 31 May 2015 28420 Purchases 481690 Sales 748 381 Wages 132471 Rent and local taxes 26402 Advertising and insurance 8327 Motor expenses 10513 Office expenses 12468 Lighting and heating expenses 11235 Required Prepare an income statement for the year ended 31 May 2015