The following are the extracted balances from the books of Gibran Trading Company, 12/31/2019 Debits: 220,000 furniture, 300,000 stocks, 120,000 securities, 70,000 cash in the bank, 64,000 sales returns, 6,000 commissions, 4,000 purchasing agents, 320,000 receivables, 8,00,000 purchases, 1,060. 000 buildings, 40,000 bad debts, 190,000 salaries, 130,000 selling expenses, 50,000 withdrawals, 6,000 purchase expenses, 144,000 advertisements submitted, 200,000 lands.

Credit balances: 60,000 furniture depreciation complex, 36,000 payment notes, 78,000 real estate revenues, 40,000 purchase returns, 110,000 provision for doubtful debts, 160,000 creditors (suppliers), 1.900,000 sales, 26 .000 acquired discount, 360,000 accumulated building depreciation, 30,000 stock revenue, 200,000 capital.

Upon the inventory, the following information was provided: 1- The goods in warehouses on 31/12/2019 were estimated at 500,000 at the market price and at 400,000 at cost. 2- Buildings are depreciated by 10% using the declining installment method, and furniture is consumed by 20% using the straight-line method annually. Upon the inventory of cash, it was found that there was a deficit in the fund in the amount of 1000, which was decided to be a loss that the company will bear. 3- Real estate revenues include those for the month of January 2019 4- The due purchasing agents commission amounted to 4000 5- The fair value of the securities is 114,000, and there are receivable securities revenue of 10,000 6- Monthly salaries of 20,000 7- The accountant neglected to record a credit sales invoice for an amount of 36,000, and he discovered this error on 31/12/2019. 8- The inventory has written off a debt of 56,000, and the establishment wants to create an allowance for doubtful debts by 10% of the debtors.

Finally, what is required: The first requirement: carrying out the necessary settlement restrictions and closing restrictions The second requirement: making a profit or loss statement (income statement) for the year ended 31/12/2019 The third requirement: Statement of financial postion