The following balance sheet is for Ditbit Co. Ltd as at June 2006:

During the following month, just completed, the company had the following transactions: a Sold stock for cash $30,000 (cost $18,000). b Sold stock on credit $55,000 (cost 30,000). c Purchased stock on credit $16,000. d Paid creditors $24,000. e Received $18,000 from debtors. f Issued $10,000 worth of shares at par value, for cash. g Paid wages of $18,000 which included the wages owing. h At the end of the month $2,400 was owing in wages. i The equipment is written off at $500 per month. j Rent of $2,700 was paid for the quarter beginning 1 July.

Required From the above information, prepare a profit and loss account and a balance sheet at the end of the month.

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Current assets Cash Stock $ +A $ 30,000 40,000 6,000 76,000 Debtors Fixed assets Equipment 25,000 Less Accumulated depreciation 10,000 15,000 91,000 Current liabilities Creditors Wages owing 25,000 3,000 28,000 63,000 Shareholders' funds Paid-up capital 60,000 Retained profits 3,000 63,000