Desmond Davies conducts a sole trade business in Five Dock, trading as Desmonds Doors.

Desmond provides the following account balances as at 30 June 2022:

Account Name		$
Cash at Bank		61,900
Accounts Receivable		20,700
Plant and Equipment		57,500
Accumulated Depreciation Plant and Equipment		15,000
Accounts Payable		19,400
Loan Payable (2026)		20,000
Capital D. Davies		71,000
Sales Revenue		256,000
Revenue from installation services		78,000
Cost of Sales		135,000
Rent expense		59,000
Depreciation expense		2,500
Insurance expense		4,200
Wages expense		78,600

Additional Information: During the year, Desmond withdrew $30,000 for personal use.

Required:

a. Construct a Statement of Profit or Loss for Desmonds Doors for the year ended 30 June 2022 (5 Marks)

b. Construct a Balance Sheet for Desmonds Doors as at 30 June 2022. (5 Marks)