The following Trial balance was taken from the books of HUBIS, a Sole Proprietor on $30$ June $2023.$

Kshs$.$ Kshs$.$

Drawings $20,000$

Purchases & Sales $713,000923,000$

Wages & Salaries $42,300$

Cash at Bank $6,000$

Cash at Hand $700$

Debtors & Creditors $70,00058,200$

Capital $200,000$

Stock $1$ July $202253,300$

Electricity & Telephones $14,000$

Premises at Cost $100,000$

Office Expenses $($including Stationery$)9,500$

Provision for Doubtful Debts $1$ July $20221,000$

Rates & Insurance $12,400$

Bad Debts written off $2,900$

General Expenses $14,400$

Motor Vehicle at Cost $48,000$

Furniture & Fittings at Cost $45,000$

Provision for Depreciation

Motor Vehicle $3,900$

Furniture & Fittings $5,000$

Return Inwards & Outwards $23,00010,000$ TOTAL $1,207,0001,207,000$

Additional Information:

$1.$ Expenses accrued but unpaid on $30$ June $2023$:

Salaries $3,600$

Electricity $2,200$

$2.$ Prepaid Insurance amounted to Kshs$.3,100$ and unused Stationery Kshs$.1,600$ on $30$ June $2023.$

$3.$ Provision for Doubtful Debts should be adjusted to $2\%$ of Debtors

$4.$ Depreciation should be provided in the following manner;

Motor Vehicles $20\%$ on Cost

Furniture & Fittings $12\mathrm{.}5\%$ on Book Value $5.$The stock on $30$ June $2023$ had a cost value of Kshs$.56,500$ Required:

i$.$ Income Statement for the period ending $30$ June $2023(6$ Marks$)$

ii$.$ Statement of Financial Position as at $30$ June $2023.(5$ Marks$)$