Here is a summary of the transaction for the business during the year (all amounts in KES) as well as key terms: I. Injected into the business share capital of 500,000 on commencement of operations 2. The business is to buy hand carts at 5,000 each, charge a 20% mark-up then resell 3. Millis pays for the hand carts up front 4. At the beginning of every month (including the first month of operations), Millie buys 50 hand carts and keeps them as inventory 5. Customers pay for the hand cans upfront when buying 6. Millie sold a total of 562 hand carts in the year. The monthly sales are as follows: Hand carts sold in January: 10 Hand carts sold in February: 45 c Hand carts sold in March: 46 Hand carts sold in April: 46 Hand carts sold in May: 47 Hand carts sold in June: 48 Hand carts sold in July: 49 I land carts sold in August 50 Hand carts sold in September 52 Hand carts sold in October: 54 Hand carts sold in November: 56 7. Millie will deduct monthly rent for this business of 7,500 at the beginning of every month, with a rent of 5,000 for January 8. Millie will pay herself a salary of 25,000 per month at the end of the month 9. The business incurs other operating expenses of 10,000 per month, paid by each immediately 10. No tax charge is recognized in the management accounts - this will be computed later once year end accounts have been prepared Your tasks: • Prepare monthly income statement