If you knew that the accounts of the first Arab company at the end of the year 2020 were available as follows:

(10 degrees)

creditors

19400

Income tax payable

560

debtors

24900

Marketing expenses

6800

Advertising services revenue

165200

Office rental expenses

13500

cash

1800

salary expense

86000

Ordinary capital

5000

salaries payable

1300

Distributions

0

supplies

1600

Equipment rental costs

37200

supplies expense

19100

income tax expense

560

Required:

1. Prepare the following financial statements: the income statement, the retained earnings statement, and the statement of financial position (6 marks)

2. As a financial accountant, provide a thorough analysis of the company's financial performance. (4 degrees)

(Always remember: define, explain, explain, justify and be decisive

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