The following data relate to the year-end balances for the business of J Holloway. From this data construct the income statement for the year ended 31 December 2015.
|
£ |
|
|
Sales |
100,000 |
|
Purchases |
68,000 |
|
Opening inventory |
5,400 |
|
Closing inventory |
7,250 |
|
Carriage inwards |
460 |
|
Rent |
7,000 |
|
Insurance |
2,100 |
|
Wages and salaries |
18,500 |
|
Heating and lighting |
870 |