Linda's income statement for the year ended 31 March 2018 is as follows:

Notes:

(a) Linda draws a salary of £200 per week from th e business. This is included in the wages and salaries figure.

(b) Repairs and renewals are as follows:

Transcribed Image Text:

Sales Less: Cost of sales Gross profit Add: Rents receivable Bank interest receivable Profit on sale of non-current asset Less: Wages and salaries Business rates and insurance Heating and lighting Repairs and renewals Telephone Motor expenses Sundry expenses Bad and doubtful debts Credit card interest Loss on sale of non-current asset Depreciation Net profit for the year 44 1,200 80 310 22,620 1,750 2,170 4,280 880 3,250 1,650 640 120 70 2,500 82,500 37,200 45,300 1,590 46,890 39,930 6,960