PLEASE I NEED THE ANSWER TO THIS QUESTION

The trial balance of Tyndall at 31 May 20X6 is as follows:
Trial balance of Tyndall at 31 May 20X6
$ $
Capital account 15,258
Drawings by proprietor 5,970
Purchases 73,010
Returns inwards 1,076
Returns outwards 3,720
Discounts 1,870 965
Credit sales 96,520
Cash sales 30,296
Customs duty 11,760
Carriage inwards 2,930
Carriage outwards 1,762
Salesman’ s commission 711
Salesman’ s salary 3,970
Office salaries 7,207
Bank charges 980
Loan interest 450
Light and heat 2,653
Sundry expenses 2,100
Rent 3,315
Insurance 4,000
Printing and postage 2,103
Advertising 1,044
Irrecoverable debts 1,791
Allowance for receivables 437
Receivables 10,760
Payables 7,411
Cash at bank 2,634
Cash in hand 75
New delivery van (less trade­in) 2,200
Motor expenses 986
Furniture and equipment:
Cost 8,000
Depreciation at 1 June 20X5 2,400
Old delivery van:
Cost 2,000
Depreciation at 1 June 20X5 1,000
Loan account at 9% (repayable in five years) 5,000
––––––– ––––––
163,007 163,007
––––––– ––––––
(1) Closing inventory has been valued for accounts purposes at $8,490.
(2) The motor van was sold on 31 August 20X5 and traded in against
the cost of a new van. The trade­in price was $1,400 and the cost of
the new van was $3,600. No entries have yet been made for this
transaction apart from debiting the $2,200 cash paid to the New
delivery van account.
(3) Straight­line depreciation is to be provided on a monthly basis at the
following annual rates:
Motor vans 25%
Furniture and equipment 10%
(4) Past experience indicates that an allowance for receivables should
be made equivalent to 5% of the closing receivables.
(5) An accrual of $372 is required in respect of light and heat
(6) A quarter’ s rent to 30 June 20X6 amounting to $900 was paid on 2
April 20X6. Insurance for the year to 31 March 20X7 amounting to
$1,680 was paid on 16 April.
Prepare an income statement and a statement of financial position for
the year ended 31 May 20X6.