Please! Help with this question:

Lion Ltda. Is a company that publishes and distributes high quality books and texts. The following trial

balance has been extracted from the company's books as of June 30, 2019:

DEBIT CREDIT

Distribution costs 441,000

Bad debt cancelled (unchargeable) 72,000

Bank 63,000

Accounts Receivable 2,700,000

Provision vehicle depreciation 360,000

Directors' Remuneration 495,000

Heating and Ilumination 252,000

Dividends 36,000

Long Term Investments 252,000

Invested capital 9,517,000

Comercialization expenses 270,000

Retained earnings to July 1st 2018 1.188.000

Provision for bad debts 72,000

Purchases 11,160,000

Sales 8,900,000

Inventory to July 1st 2018 1,206,000

Vehicles 720,000

Non operative income from sales of vehicles 6,000

18,855,000 18,855,000

The following additional information is available:

1. Inventory as of June 30, 2019 amounted to 1,395,000 at cost.

2. The proceeds from the disposal of vehicles of 6,000 (Vehicle Disposal Proceeds), on the trial balance relates

to the sale of the car by the CFO on July 1, 2018. This car had been purchased for 20,000 on July 1, 2017.

The linear base will be used to make the depreciation of vehicles at 25%. You can assume that residual values

are considered intangible for all fixed assets.

3. The provision for doubtful/bad debts must be adjusted to 5% of trade debtors pending as of June 30, 2019.

Prepare the Statement of income of Lion Ltda for the year ended June 30, 2019 and a Statement of

financial position on this date in a manner suitable for presentation to the directors.