Following is the trial balance of Al Hakeem Tea Company LLC for the year ended 31 st December 2014: Name of the Account Dr( OMR) Cr(OMR) Bank 26000 Purchases 324000

Following is the trial balance of  Al  Hakeem Tea  Company  LLC   for the year ended 31 st December 2014: Name of the Account Dr( OMR) Cr(OMR) Bank 26000 Purchases 324000 Sales 455000 Accounts Receivable 28000 Accounts Payable 46000 Notes Payable 8000 Notes Receivable 16000 Salary Expense 32000 Rent    Expense 24000 Insurance  Expense 3800 Other Income 9800 Machinery 44000 Buildings 76000 Loan 49000 Capital 55000 Sales Return 7000 Purchase Return 8000 Opening Stock 50000 Total 630800 630800 Other information: Closing stock is 60000 OMR. Depreciation charge on Machinery and  Buildings  is 10% Required :  (i) Prepare the Income statement

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