On 31 July 2021 the business of Ruth Lye purchased fixtures and fittings costing $19 250 ($17 500 + $1750 GST) with an estimated residual value of $1100 ($1000 + $100 GST) at the end of the useful life of five years.

Depreciation is by the straight line method.

On 1 October 2021 a small truck was purchased for $49 500 ($45 000 + $4500 GST) with an estimated residual value of $3300 ($3000 + $300 GST); depreciation is 35% p.a. using the diminishing balance method.

On 31 August 2022 a car was purchased for $38 500 ($35 000 + $3500 GST) with an estimated residual value of $2200 ($2000 + $200 GST); depreciation is 30% p.a. using the diminishing balance method.

On 1 November 2022 office furniture was purchased for $10 450 ($9500 + $950 GST) and is to be depreciated using the straight line method over 10 years with a residual value of $220 ($200 + $20 GST).

Prepare:

a a time line to 30 June 2024 b appropriate depreciation worksheets to 30 June 2026 c an extract income statement for the year ended 30 June 2024, and d an extract balance sheet as at 30 June 2025.