An extract from the general ledger of Retail Limited for the year ended 30 June 2015 appears as follows: 

Additional information:
Cash paid to suppliers $84 500
All other expenses were paid in cash
Cash received from customers $172 350
Cash paid to purchase equipment $36 000
The bank loan was taken out in the current year and is repayable in May 2017.

Required

(a) Prepare a statement of profit or loss for the year ended 30 June 2015.

(b) Prepare a calculation of retained earnings for the year ended 30 June 2015.

(c) Prepare a statement of financial position as at 30 June 2015.

(d) Prepare a statement of cash flows for the year ended 30 June 2015.

(e) Calculate the Cash account balance at 1 July 2014 (i.e. the opening balance).

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Item Accounts Payable Accounts Receivable Advertising Expense Bank Loan Cash Cost of Sales Equipment Insurance Expense Intangibles $ 3 300 8320 5000 15 000 24 250 82 000 83 000 1 300 6300 Item Inventory Other Expenses Rent Expense Repairs Expense Opening Retained Earnings Salaries expense Sales Share Capital Dividends Paid 21 500 6250 2500 15 000 12 500 35 000 167 420 100 000 7800