Extract an income statement for the year ending 30 June 2012 for G. Graham. The trial balance as at 30 June 2012 after his first year of trading was as follows:

Transcribed Image Text:

Equipment rental Insurance Lighting and heating expenses Motor expenses Salaries and wages Sales Purchases Sundry expenses Lorry Accounts payable Accounts receivable Fixtures Shop Cash at bank Drawings Capital Inventory at 30 June 2012 was 29,304. Dr 940 1,804 1,990 2,350 48,580 245,950 624 19,400 44,516 4,600 174,000 11,346 44,000 600,100 Cr 382,420 23,408 194,272 600,100