5. Below are a simple trial balance and the ending inventory figure for London Retailers after a fiscal period of one month. LONDON RETAILERS TRIAL BALANCE JUNE 30, 20 Credit Debit 3 000 29 350 24 500 I 250 17 500 3 500 35 000 Bank Accounts Receivable Merchandise Inventory Supplies Automobile Accumulated Depreciation - Automobile Equipment Accumulated Depreciation - Equipment Accounts Payable T. Wilkes, Capital T. Wilkes, Drawings Sales Purchases Advertising Expense Car Expense Rent Expense Utilities Expense Wages Expense 6 000 7222 70 028 5 000 55 325 18 575 500 750 1 000 900 4 750 142 075 142 075 Given that the ending inventory figure is $25 350, prepare an income statement for the month.
