Given the following balances, prepare for each scenario below, the Profit and Loss Statement or Income Statement; and the Balance Sheet or Statement of Financial Situation.

Exercise 4 The company "El Cuarto, S.A." presents the following balances as of June 30, 200X with which it is requested to prepare Income Statements and Balance Sheet. The company began operations on January 1 of the same year. ACCOUNT BALANCE Fixed cash fund $5 Office furniture and equipment 120 Miscellaneous creditors 130 Cost of sales 510 Banks 180 Organization expenses 15 Share capital 600 Financial products 20 ACCOUNT BALANCE Investments in permanent securities $ 220 Selling expenses 160 Warehouse 270 Sales 700 Transport equipment 70 Financial expenses Long-term notes payable 240 taxes payable 35 Clients 40 Suppliers 65 Administration expenses 140 Miscellaneous debtors 10