3. Assume that your chosen organisation has made a small investment in Wilson Supplies Ltd. The following are the account and balances (in random order) for the year ended 31 March, 2021.

	Notes payable	11000
	Prepaid insurance	2500
	Interest expense	500
	Accounts payable	1500
	Wages payable	400
	CASH	10000
	Wages expense	7500
	Accounts receivable	4000
	Utilities expense	1300
	Interest payable	100
	Unearned revenue	800
	Supplies expense	200
	Office Equipment	40,000
	Insurance expense	1,800
	Accumulated depreciation Office Equipment	15000
	Dividends	3,000
	Common stock	10,000
	Depreciation expenseOffice Equipment	2,000
	Retained earnings	14,800
	Services revenue	20,000
	Supplies	800

An extract of business transactions completed by Wilson Supplies Ltd in the first week during the month of April are as follows.

a. The company purchased an office equipment valued at $10,000 and a motor vehicle valued at $160,000. The purchase is paid with $30,000 cash and a long-term note payable for $140,000.

b. The company purchased $2,000 of office supplies on credit.

c. Credit sales to customers amounted to $20,000. The cost price for the supplies were $18,000.

d. The company paid $635 cash for this months utilities.

e. The company paid a $2,800 cash dividend.

Use the information given above to show the effect of the transactions (a-e) on the accounting equation (Assets - Liabilities = Owners Equity) and prepare the following adjusted financial statements: A Statement of financial position (Balance Sheet) An income statement