9.9 From the following trial balance of Kingfire, extracted after one year of operations, prepare an income statement for the year ending 30 June 2012, together with a statement of financial position as at that date. Sales Purchases Salaries 35,800 14,525 2,325 9,300 1,250 Motor expenses Rent and business rates Insurances -building 750 -vehicles 1,200 10,000 17,500 Motor vehicles Fixtures Cash in hand Cash at bank 500 1,250 Drawings Long-term loan Capital 12,000 15,000 19,275 Accounts receivable 11,725 Accounts payable 9,750 81,075 81,075 Inventory on 30 June 2012 was 3,000