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3. Susan Lee has not kept proper accounting records for her business which opened on January 1, 2017. On that date she opened a business
3. Susan Lee has not kept proper accounting records for her business which opened on January 1, 2017. On that date she opened a business bank account with $30,000 of her private funds. A summary of her bank account for the year ended December 31, 2017 is shown below: S 14,500 25,000 27,800 18,100 8.800 94.200 Capital introduced 30,000 Drawings Cash sales 64,200 Purchased of fixed assets Payments to suppliers of inventory Business expenses Balance at December 31, 2017 94.200 On December 31, 2017 unsold inventory was valued at $7,700 there were business expenses of $200 prepaid fixed assets were to be depreciated by $4,000 the amount owing to trade creditors was $3,200 Required: Prepare for Susan Lee the income statement for the year ended December 31, 2017
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