Walmart Inc.	Year Ended 30 June 2020
Vehicle running costs	£1,250
End inventory	£3,900
Rent costs	£5,800
Motor vans – cost less depreciation	£7,000
Annual depreciation – motor vans	£1,700
Utility expenses	£920
Telephone and postage	£480
Total sales	£97,000
Cost of goods purchased	£66,500
Insurance premiums	£750
Loan interest expenses	£610
Bank balance	£4,600
Employee salaries	£10,200
Beginning inventory	£4,300

Prepare an income statement for the year ended 30 June 2020, and determine the gross profit and net earnings.