The following selected information relates to Chelsea Traders, owner Roman Abramovich. At 1 June 2020, Chelsea Traders had opening inventory of $2,400, Land $100,000 and Cash at Bank of $80,000. Information during June was as follows: 2 Purchased inventory costing $16,000 on account. 4 Returned defective goods, which cost $3,200, purchased on account on 2 June. 10 Sold goods for $9,600 (cost price $6,800), collecting cash of $4,000 with the remainder on account. 12 Goods costing $1,600, and sold on account on 10 June for $2,400, were returned by the customer. 14 Paid $6,000 of the amount owed on the 2 June account purchase. 16 Received $2,000 from the 10 June sale on account 30 Physical stock take showed $9,600 of inventory on hand. Required: a) Prepare an extract of the Income Statement for the perpetual inventory method for June 2020.(2.5 marks) b) Prepare an adjusted Trial balance for June 2020 for the periodic inventory method after the physical stock take. Show ALL workings (7.5 marks)