The following trial balance was extracted from the books of Aris Ltd. as at 31.12.2019 DR CR 000 000 Sales 6,318 Inventory 01.01.19 223 Purchases 3,994 Land at cost 369 Buildings at cost 2.729 Equipment at cost 420 Vehicles at cost 65 Depreciation as at 01.01.19: Buildings 37 Equipment 70 Vehicles 21 Trade receivables and trade payables 356 160 Provision for Bad Debts 9 Bank 80 0.50 ordinary shares 1,200 6% debentures 70 Share premium 60 Retained profits 01.01.19 570 Cash 11 Distribution expenses 120 Insurance 15 Administration expenses 133 8,515 8,515 The following information has not been accounted for: 1. Closing inventory as at 31.12.19 is 254,000 2. Depreciation is to be charged at: 3% straight line on buildings. straight line on equipment (useful life 7 years, nil residual value) and 8,515 8,515 The following information has not been accounted for: 1. Closing inventory as at 31.12.19 is 254,000 2. Depreciation is to be charged at: 3% straight line on buildings, straight line on equipment (useful life 7 years, nil residual value) and, 20% reducing balance on vehicles 3. Taxation for the year is estimated at 27,000 . . 4. Debenture interest has yet been paid 5. Dividends of 4p per ordinary share are declared 6. A provision for bad debts of 5% is to be allowed for 7. Insurance includes 6,000 for the period January 1" - March 31st 2020. Required: Prepare the income statement and the statement of financial position as at 31.12.19 in a form suitable for publication for Aris Ltd