Western Sydney Ltd commenced operations on 1 July 2018. The following has been extracted from their internal reports for the second year of operations: (Note: data for the first year of operations is available from Week 3 Lecture Example) Income Statement (Extract) for the year ended 30 June 2020 Gross profit Expenses Administration expenses Doubtful debts expense. Salaries expense..... Interest $ 62 000 18 000 205 000 $ 956 000 Long-service leave Warranty expense. Depreciation expense - plant Insurance expense...... Accounting profit before income tax expense 12 000 30 000 35 000 80 000 25 000 467 000 489 000