Below is the adjusted trial balance at 30 June 2021 for Sweet Home Alabama Treats owned by Lulu,

B: Cash at bank $56,000 Machinery and Equipment $200,000 Wages Payable 25,000 Lulu, B. capital 1 July, 2020 80,000 Accounts receivable 46,000 Depreciation expense machinery and equipment 5,000 Insurance expense 12,000 Advertising expense 15,000 Accounts payable 75,000 Wages expense 60,000 Sales revenue 200,000 Lulu,

B. drawings 15,000 Loan payable 100,000 Baking supplies expense 41,000 Fuel expense 10,000 Baking supplies 50,000 Prepaid Insurance 35,000 Accumulated depr. machinery and equipment 50,000 Unearned Revenue 15,000

a) Prepare the closing entries in the general journal for Sweet Home Alabama Treats for the year ending 30 June 2021.

b) Prepare a statement of financial position in account format for Sweet Home Alabama Treats as at 30 June 2021.