Use the trial balance provided below to answer the question. Note that the accounts in the trial balance appear in no particular order. Using the information included in the trial balance provided, complete the income statement for Next Generation Ltd for the year ending 31 December 2019 Start writing here, using the template below to complete this question: Next Generation Ltd Next Generation Ltd Trial balance on 31 December 2019 Income statement for the year ended 31 December 2019 Debit Credit Share capital 570,000 Property, plant, and equipment 2,100,000 Bank 195,000 Gross profit Revenue 480,000 Other income Rental income 35,000 Cost of sales 225,000 Salaries and wages 110,000 Selling, administrative, and general expenses Insurance 28,000 Fuel 12,000 Telephone line charges 8,000 Interest income 24,000 71,000 Interest expense Inventory 165,000 Accounts receivable 43,000 Operating profit Accounts payable 182,000 Tax expense 17,000 Petty cash 2,000 Profit before tax Long-term loan 270,000 Short-term loan 15,000 Mortgage 1,400,000 Net profit TOTAL 2,976,000 2,976,000