Hello, can you answer the questions below? I can not answer because I did not get the lesson here and I cannot understand the question, and please give an explanation on the answers to every question that's all thank you.

General Instructions: Read the scenario and analyze each problem carefully. Solve what is required in each problem. Present the SCI properly.

Problem 1: (10 points)

Assume that you are the owner of Aurora Caf, a specialty coffee shop in Baler. At the end of June 2019, you collated the following:

a. Sales per cash register records, totaled P470,000. There was a sale on credit of P7,500.

b. With the help of a friend who is an accountancy student you determined that the cost of goods sold during June was P160,000.

c. During the month, you paid P140,000, for salaries, rent, advertising, and other expenses. Utilities of P6,800 for June was unpaid because of late billing.

Required: What is the profit for June 2019? Provide your solution.

Problem 2: (20 points)

Accounts selected from the Dec. 31, 2019 trial balance of the Bartolome Pozon Traders are listed below.

Cash P 457,600 Accounts Receivable 230,000 Inventory (based on physical count) 2,385,000 Equipment, Net 1,277,000 Accounts Payable 1,568,300 Salaries Payable 134,000 Revenues 3,849,600 Expenses (including cost of sales but excluding income taxes 2,150, 100 Income Tax Expenses (30% of income before tax), all paid during the 2018-2019 financial year Share Capital Issued and Outstanding 1,600,000 Dividends Declared and Paid during 2018-2019 142,350Sales P 9,630,000 Purchases 4,720,000 Merchandise Inventory, 1/1/2019 2,170,000 Merchandise Inventory, 12/31/2019 1,430,000 Salaries Expense - Selling 1,140,000 Salaries Expense - General 920,000 Office Supplies - Expense 460,000 Depreciation Expense - Office Equipment 320,000 Sales Returns and Allowances 280,000 Insurance Expenses 55,000 Sales Discounts 210,000 Transportation Out 170,000 Depreciation Expense - Store Equipment 160,000 Purchase Returns and Allowances 110,000 Selling Supplies Expense 80,000 Purchases Discount 70,000 Transportation In 50,000 Miscellaneous Expense 30,000