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Below is the unadjusted trial balance as at 3 0 June 2 0 2 4 . The company's financial year ends on 3 0 June

Below is the unadjusted trial balance as at 30June 2024.The company's financial year ends on 30June.
Cash at Bank: Debit: $24000
Accounts receivable:Debit: $32000
Inventory: Debit: $22710
Supplies(asset): Debit: $2500
Prepaid insurance:Debit:$235
Equipment(cost): Debit: $62000
Vehicle(cost): Debit: $82000
Cost of Sales: Debit: $52000
Sales Returns and Allowances: Debit: $1870
Discount Allowed: Debit: $1500
Electricity expense: Debit: $3000
Insurance expense: Debit: $2585
Sales salaries expense:Debit: $20500
Selling expense: Debit: $7570
Dividends paid: Debit: $2000
Accumulated Depreciation-equipment: Credit: $2500
Accounts payable: Credit: $14085
PAYE payable: Credit: $1600
Bank loan (10%interest p.a.): Credit: $30000
Share Capital: Credit: $110000
Retained earnings: Credit: $42700
Sales: Credit: $114930
Discount received: Credit: $655
Additional data as at 30June 2024:
a.)Supplies on hand on 30June 2025are $2300
b.) Annual insurance premium of $2820was paid on 1July 2023.Adjustments to Prepaid insurance have been made until and including 31May 2024.
c.) Junes electricity bill of $500was received and is payable on 15July 2024.This bill has not yet been recorded in the account. Use Accounts Payable to record the electricity bill.
d.)Sales salaries accrued but not paid as of 30June 2024are $3000(Gross).PAYE (10%of gross)is payable on the 10th of the first month of each quarter.
e.) No depreciation has been charged since the last financial year. Depreciation is to be charged at the following rates:
For Equipment: the straight line method at a rate of 10%is used for all equipment. Note: some equipment was purchased on 1January 2023,while the remaining equipment was bought on 1April 2024,at a cost of $12000.No residual value is assigned to any of the equipment.
For Vehicle: the company vehicle was purchased on 1September 2023and has a useful life of 5years. The estimated residual value is $4000.Straight line depreciation method is used for the vehicle.
f.)The bank loan of $30000was taken out on 1 July 2023for five years. A payment of $12000, including both principal and interest, is due annually. The interest is charged at a rate of 10%p.a.and is not compounded.
g.)The company includes supplies, electricity, insurance and depreciation expenses under administrative expenses. Interest expense is listed separately under financial expenses.
h.)Due to an economic downturn, all profits will be retained at the end of the financial year.
For the purpose of this question please ignore GST and income tax.
Prepare a Classified Statement of Profit and Loss for the year ended 30 June 2024?

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