2 Not yet answered Marked out of 15.00 Flag question These financial statement items are for Boundary Pty Ltd at year-end, 30 June 2021: Trial balance as at 30 June 2021 Dr Cr Cash at bank 120,340 Inventory Accounts Receivable Prepaid insurance 80,790 55,900 44,000 Motor vehicles 105,000 Accumulated depreciation - MV 43,000 Office Equipment 54,200 Accumulated depreciation - Office Equip' 14,200 Accounts payable 42,000 Revenue received in advance 5,500 Bank Loan - due in 2026 100,000 Share capital 110,000 Retained earnings (opening balance) 33,400 Sales Revenue Cost of Goods Sold Advertising expenses 525,400 157,620 39,200 Depreciation 22,900 Insurance 36,000 Interest expense 4,500 Telephone and internet 5,400 Wages and salaries 126,250 Motor Vehicle expenses 21,400 Total 873,500 873,500 Required: a. Prepare a statement of profit or loss for the year. (6 marks) b. Prepare a calculation of retained earnings for the year. (3 marks) c. Prepare a classified statement of financial position at 30 June 2021. (6 marks)