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{"ops":[{"insert":"Draft an income statement with the following information.\nCapital-R200 000\nDrawings-R25 000\nCash sales-R500 000\nCash purchases-R125 000\nCredit sales-R500 000\nCredit Purchases-R250 000\nInventory(closing)- R100 000\nBank(opening)-R20 500 (unfavorable)\nCost of sales- R300 000\nWages-R50 000\nAdvertising-R25 000\nTelephone-R13 000\nStationary-R10 000\nInterest income-R2 500\n\n"}]}
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