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Make an income statement for the year ended june

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Question - The following information relates to the activities of Honey Retailers for the year ended 30 June 2020:

Motor vehicle running expenses $4,800

Closing inventory 12,000

Rent and rates 20,000

Rent received from sub-letting 8,000

Motor vans 25,200

Annual depreciation - motor vans 6,000

Heat and light 3,600

Telephone and internet 1,800

Sales 389,600

Goods purchased 273,400

Insurance 3,000

Loan interest payable 2,480

Bank account balance 19,120

Salaries and wages 41,600

Opening inventory balance 16,000

Required - Make an income statement for the year ended 30 June 2020.

Reference no: EM132616023

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