Question – Income Statement

The following Trial Balance was extracted from the books of J Carson at 31 December 2018:
Dr Cr
RM RM
Capital SOFP 30,000
Carriage Inward 运费(把货运进来)-买东西(E) 2,000
Carriage Outward 运费(把货运出去)-卖东西(E) 800
Purchases E 155,000
Motor Vehicle (A)SOFP 6,000
Office Equipment (A)SOFP 15,000
Sales (I) IS 255,450
时薪Wages and salaries 月薪 (E)IS 48,000
Lighting and heating 水电费 (E)IS 7,500
Rent and rates 租金&门牌税 (E)IS 5,250
Vehicle running expenses (E)IS 2,500
Telephone expenses (E)IS 7,000
General Office Expenses (E)IS 3,800
Account Receivables (A)SOFP 35,000
Account Payables (L)SOFP 26,200
Accumulated Depreciation:
Motor Vehicle SOFP 3,000
Office Equipment SOFP 4,500
Drawings SOFP 15,400
Bank (A)SOFP 6,100
Cash (A)SOFP 800
Inventory SOFP 8,000
Return Inwards 退货(把货退进来)Sales Return 4,000
Return Outwards 退货(把货退出去)Purchases Return 3,000
322,150 322,150

Additional information:

1) Inventory was valued at RM 10,000.

REQUIRED

Prepare Income Statement for the year ended 31 December 2018.