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Bono Bakery, a company which prepares and delivers custom cakes made from premium ingredients, had the following account balances at the end of September 2021:
Bono Bakery, a company which prepares and delivers custom cakes made from premium ingredients, had the following account balances at the end of September 2021: Accounts Payable Prepaid Rent Accounts Receivable Advertising Expense Bank Loan Sales Revenue Cash Common shares Loan Payable Wages Expense Cost of Goods Sold Depreciation Expense Equipment Inventory Rent Expense Retained Earnings (As at December 1, 2017) Wages Payable 13,000 3,500 28,000 7,000 55,000 183,000 38,000 22,000 10,000 47,000 89,000 4,000 65,000 8,500 12,000 13,000 2,000 Required (Q1-2): a) Prepare, in good format, a statement of income for the year ended September 30, 2021. b) Prepare, in good format, a statement of financial position as at September 30, 2021
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