Assume that you are the controller of McClaren Corporation. At June 30, the end of the first year of operations, the following finar data for the company are available: Cash Search Receivables from customers (all considered collectible) Inventory of merchandise (based on physical count and priced at cost) Equipment used in the business Payables to suppliers of merchandise Salary payable (on June 30, this was owed to an employee who will be paid on July 7) Total sales revenue Expenses, including the cost of the merchandise sold (excluding income taxes) Income taxes expense (at 30% of pretax earnings); all paid by June 30 Contributed capital, 5,000 shares outstanding $13,150 9,500 57,000 36,000 31,500 1,500 90,000 60,500 (DOLL ? No dividends were declared during the first year. Required (show computations): 1. Prepare a statement of earnings for the year ended June 30. 2. Prepare a statement of changes in equity for the year ended June 30. 3. Prepare a statement of financial position as at June 30. 4. How would a creditor make use of the information on receivables from customers and the payables to suppliers of merchandise ?