Account balances at the end of June 20xo: Accounts Payable Accounts Receivable Capital Cash at Bank Computer Equipment Inventory Loan (Payable in 8 years) Supplies 132,000 156,000 ? 186,000 28,000 139,000 1,462,000 40,000 161,000 Transactions for the financial year 20X0 to 20x1 10-July Sold products costing 740,000 were sold for 1,020,000 and received cash. 14-August Paid for Research and Development 200,000 by way of electronic transfer. 16-September Paid the wages, 256,000. 18-October Received 77,000 from customers who previously purchased goods on credit. 22-November Sold some factory equipment on account for 64,000. 5-December Paid of part of the loan, 20,000. 7-January Received a loan of 73,000 from the bank to use to buy new office furniture o few months. 22-March Sold products costing 480,000 for 760,000 on account. 16 May Purchased supplies costing 36,000 on account. 26-June Paid the Account Payable that was owing at the beginning of the Financial Yea Further information: For the financial year 20x2, the business anticipates increased value sales of 40%. The business a expenses; (except the marketing), to increase by 12%. The Marketing Budget for the next financ allocated exclusively to the new product and will be allocated as 15% of the expected Sales Reve 1. Using the amounts for accounts provided below, open accounts in an Accounting Equation a transaction analysis with the information provided. 2. Prepare the Income Statement, Statement of Changes in Equity and Balance Sheet for the ye 30 June 20x1 3. Use the additional information to create a Budgeted Income Statement for the year 30 June Account balances at the end of June 20xo: Accounts Payable Accounts Receivable Capital Cash at Bank Computer Equipment Inventory Loan (Payable in 8 years) Supplies 132,000 156,000 ? 186,000 28,000 139,000 1,462,000 40,000 161,000 Transactions for the financial year 20X0 to 20x1 10-July Sold products costing 740,000 were sold for 1,020,000 and received cash. 14-August Paid for Research and Development 200,000 by way of electronic transfer. 16-September Paid the wages, 256,000. 18-October Received 77,000 from customers who previously purchased goods on credit. 22-November Sold some factory equipment on account for 64,000. 5-December Paid of part of the loan, 20,000. 7-January Received a loan of 73,000 from the bank to use to buy new office furniture o few months. 22-March Sold products costing 480,000 for 760,000 on account. 16 May Purchased supplies costing 36,000 on account. 26-June Paid the Account Payable that was owing at the beginning of the Financial Yea Further information: For the financial year 20x2, the business anticipates increased value sales of 40%. The business a expenses; (except the marketing), to increase by 12%. The Marketing Budget for the next financ allocated exclusively to the new product and will be allocated as 15% of the expected Sales Reve 1. Using the amounts for accounts provided below, open accounts in an Accounting Equation a transaction analysis with the information provided. 2. Prepare the Income Statement, Statement of Changes in Equity and Balance Sheet for the ye 30 June 20x1 3. Use the additional information to create a Budgeted Income Statement for the year 30 June