Rotterdam Financial Services Pty Ltd, managed by Saphira Browne, provides accounting, taxation and financial planning services to clients residing in the inner Melbourne area. The balance sheet for Rotterdam Financial Services Pty Ltd as at 1 October 2018 is as follows.

During the three months from October to December, Rotterdam Financial Services Pty Ltd conducted the following transactions:

Required
a. Prepare a worksheet for Rotterdam Financial Services Pty Ltd for the business transactions from October to December 2018.
b. Using the data given above, prepare a statement of profit or loss for the quarter ending 31 December 2018 and a balance sheet as at 31 December 2018 for Rotterdam Financial Services Pty Ltd.
c. Comment on the profit/loss for the business for the three months ending 31 December 2018.

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Rotterdam Financial Services Pty Ltd Balance sheet as at 1 October 2018 Assets Cash Accounts receivable Supplies Building Total assets Liabilities Accounts payable Equity Capital Total liabilities and equity $ 58140 6840 13 680 139 080 $217 740 $ 28 500 189 240 $217 740