Cheap Imports R Us PTY LTD (ABN-12-345-678-901) operates as a company and you are the accountant for them. Cheap Imports R Us PTY LTD is a wholesale business specialising in electronic equipment made in Australia. The business started its first month of the new year which started on 1st February 2021. You should have two months of data, being the manual accounting and the electronic accounting MYOB.. REQUIREMENTS You will need to prepare a cash flow statement for your business. Once you have completed a cashflow statement then you will be required to prepare a short-report- on the financial position of the business. Account Number Account name 1001 Cash at Bank 1010 Accounts Receivable 1020 Inventory Prepaid Rent 1030 1035 Prepaid Insurance 1040 Stationery Supplies 1110 Computers 11114 Accumulated Depreciation Office Computers 1120 Warehouse Equipment 1121 Accumulated Depreciation Warehouse Equipment 2001 2010 Cheap Imports R Us Trial Balance as at 31st January 2021 3001 3010 3050 Accounts Payable Wages Payable Share Capitale Retained Earnings Dividends %3 **** 2 2 43 2 % 42 f www. Debit 17,191.00% 11,960.00- 18,510.00 % %2 -2,000.00 740.00 4,500.00 33,000.00- 27 87,901.00 %2 Credit 300.00 9,600.00 9,350.00 1,024.004 55,000.00 12,627.00 87,901.00- Cheap Imports R Us Income Statement For the month ended 31st March 20214 *P INCOME Sales- Sales returns and allowances discounts received TOTAL INCOME COST OF SALES Cost of Goods Solde Discounts Allowed TOTAL COST OF SALES GROSS-PROFIT EXPENSES Wages Expense Rent Expense Telecommunication Expense Electricity expense Insurance Expense Vehicle Expense Cleaning Expense Stationery Expense Depreciation Expense Loss on the sale of assets Interest Expense TOTAL EXPENSES NET PROFIT/(LOSS) 2 " 73,680.00 e (3,900.00) 311.00 30,820.00 517.00 70,091.00 50.00* 31,337.00 38,754.00 16,128.00 2,500.00 400.00 350.00 400.00 175.00 350.00 190.00 1,115.00 4,900.00 26,558.00 943 12,196.00 Q Balance Sheet as at 31st March 2020 ASSETS Current Assets Cash at Bank Accounts Receivable Inventory Prepaid Rent Prepaid Insurance Stationery Supplies Total Current Assets Non-current Assets *Computers Accumulated Dep'n-Office Computers Forklift Accumulated depreciation Forklift Total Non-current Assets TOTAL ASSETS LIABILITIES Current Liabilities Accounts Payable Wages Payable Cleaning Payable Prepaid Revenue Total Current Liabilities % Non-current Liabilities Loan ABC Bank TOTAL LIABILITIES NET ASSETS OWNER'S EQUITY Share Capital Retained Earnings. TOTAL EQUITY e 943 * e e e * * % %3 P P 4 4 43 (3 43 43 43 'e 'e 'e "P 2 'e 24 $66,910.00 $0.00 $4,170.00 $0.00 $1,600.00 $550.00 "P " $4,500.00 ($800.00) $3,700.00 $23,800.00 ($115.00) $23,685.00 2 % *43 $0.00 $1,152.00 $350.00 $7,740.00 $9,242.00 *e *e $11,550.00 'G 2 e 20 24 e 43 $73,230.00 p *4 $27,385.000 $100,615.00 %3 %3 Pe 20 20 $55,000.00 e $24,823.00 "e $20,792.00 $79,823.00 $79,823.00 Operating Activities || P 12 4 a 42