5 AI Younis, is a dealer of electronics operating in the South Batinah Region. His trial balance at the end of its financial year as at 30 June 2017 was as follows: Trial balance as at 30 June 2017 Debit Credit $ Motor vehicles cost 17.500 Motor vehicles depreciation provision Office fittings (cost) 12.00 Office fittings (depreciation provision) Deters 25.000 Credo 147 Discount Allowed and Discount Received SOD 300 Opening Inventory at 1 July 2016 120.000 Sales and purchases 110,000 183.600 Rams 2.100 500 Rent, rates and insurance 5,460 Motor vehicle expenses Office expenses Heat and lige 1.840 General expenses 2.30 Freehold premises 65,000 23,200 Salaries and wages 331.840331.540 The following information is also available: 1 Closing Inventory is valued at $26,300. 2 Rates of $1,500 were outstanding at 30 June 2017. 3 Insurance of $200 was prepaid at 30 June 2017. 4 A motor vehicle repair carried out in June 2017 costing $500 was outstanding. 5 A provision of 8% to be created for doubtful debts. 6 Depreciation is to be provided at the rate of 25% per annum on cost for Motor vehicles and 15% per annum on cost for Office fittings Prepare a Statement of Profit or Loss (Income Statement) for the year ended 30 June 2017. B3 Prepare the Statement of Financial Position(Balance Sheet) (based on the Trial Balance in Section A (Question 1