W & X Merchants	Year Ended 30 June 2018
Transport expenses	£1,400
Ending inventory	£3,900
Rental expense	£6,000
Delivery vans – cost less depreciation	£7,100
Annual depreciation – delivery vans	£1,800
Energy bills	£1,050
Postal charges	£540
Revenue from sales	£103,000
Purchases	£68,000
Insurance premiums	£820
Loan interest	£660
Bank balance	£4,800
Wages and salaries	£10,500
Beginning inventory	£4,300

Prepare a detailed profit and loss statement for the year ended 30 June 2018, and determine the net income.