ANDREW'S GOLFING GEAR Trial Balance (extract) at 30 June 2019 Debit Credit Cash on hand Sales staff wages Debtors' control Debt collection fees Interest revenue Prepaid Office expenses Advertising Insurance Bank Commission revenue Delivery van Interest on bank overdraft Inventory control Bad debts 350 8 500 2 700 170 1.800 2500 320 1 200 6 000 1200 25000 280 8 900 Drawings Sales Purchases Other Information at 30 June 2019 200 120 85 000 45000 The stock take showed inventories of $8 000 on hand. Commission revenue owing is $60. Advertising expenses include $1100 that was paid on 1 February 2019 for an advertisement that will appear once a month in the newspaper over the next 11 months Office expenses for the period is $850. Insurance instalment outstanding is 700 Andrew decided to create an Allowance for Doubtful debts at 10% of Debtors After taking the additional information into consideration, complete the following: a) The Income statement for the year Sales Cost of Goods Sold Opening Stock Gross Profit Add: Other Revenue Interest Revenue Commission Revenue Less: Expenses Sales Staff wages Advertising Office expenses Insurance Income statement (extract) of Andrew's Golfing Gear for the year ending 30 June 2019 $ 85000 320 8500 Debt Collection fees 170 70 Bad Debts Doubtful Debts Interest on Bank overdraft b) Complete the Asset section of the Balance Sheet 280 b) Complete the Asset section of the Balance Sheet Balance Sheet of Andrew's Golfing Gear as at 30 June 2019 (extract) Current Assets Cash on Hand Debtors Control Inventory Control Prepaid Office Expenses Non Current Assets Delivery Van Total Assets Current Liabilities c) Balance Day Adjustments are based on the 350 2700 60 60 25000