The trial balance shown below has been extracted from the general ledger of R. James Electronics Ltd at 30 June 2016: The following facts came to light after the trial balance was completed: Investigation of a credit balance in a debtor's account in the subsidiary ledger showed that a credit sale of goods in May $800 had not been recorded. The last day of the period, 30 June 2012, was a Wednesday. The staff are paid on Friday for a credit sale of goods in May for $800 had not been recorded five-day working week which ends on Friday. Sales salaries are $2, 035 per week and office salaries are $475 week. Electricity expenses of $350 have been incurred but not billed and not recognized. Telephone expenses of $200 have been incurred (in respect of calls) during June, but not recognized. The rent expense shown in the trial balance includes an amount of $600 prepaid for the first two weeks of July 2016. Depreciation of $2, 400 is to be charged on office equipment and depreciation of $2, 305 is to be charged on demonstration equipment. Interest on the long-term loan is at the rate of 12% per annum, payable quarterly in advance on the last day of each quarter The loan was made on 01 October 2015. Bad debts of $700 are to be written off, and the allowance for doubtful debts is to be of the newly calculated debtors amount. Required: Prepare journal entries for any period-end adjustments for the above items. Prepare an income statement for the year ended 30 June 2016. Prepare the note showing change in Retained Profits for the year ended 30 June 2016. Prepare a balance sheet as at 30 June 2016. All financial reports must be suitably classified