During the year ended 30 June 2024, Skilled Services, a provider of temporary secretary personnel, had collected receipts from clients for a total value of \($250000.\) Wages of \($136000\) had been paid to the temporary workers, rental of office space and electricity costs were \($12000\) and \($13\) 700 respectively for the year, and the owners withdrew \($20000\) for their personal use.

Required

1. Prepare a statement of financial performance for the year for Skilled Services.

Skilled Services is a sole proprietor. Compare the liability or a sole proprietor with that of a company shareholder.