Donalds Juice Shop had the following balances in its ledger at 30 June 2020.

Account	Amount ($)
Cash at Bank	$48 724
Accounts Receivable	$2 05 056
Inventory	$2 91 200
Prepaid Insurance	$15 744
Office Supplies on Hand	$8 736
Furniture & Fixtures	$1 06 080
Accumulated Depreciation Furniture & Fittings	$29 120
Delivery Equipment	$1 24 800
Accumulated Depreciation Delivery Equipment	$49 920
Accounts Payable	$72 072
Loan Payable	$3 12 000
Donald, Capital	$1 32 284
Donald, Drawings	$75 240
Sales	$19 22 800
Sales Returns & Allowances	$26 664
Discount Allowed	$18 200
Cost of Sales	$10 99 488
Freight In	$24 960
Discount Received	$22 464
Sales Salaries Expense	$1 82 208
Delivery Expense	$48 800
Advertising Expense	$71 760
Rent Expense	$76 400
Office Salaries Expense	$90 000
Electricity Expense	$26 600

Donalds Juice Shop financial year ends on 30 June. During the year the accountant prepared monthly statements using worksheets, but no adjusting entries were made in the journals and ledgers. Data for the year-end adjustments are as follows.

1. Expired insurance, 30 June 2020, $2624.
2. Office supplies on hand, 30 June 2020, $4088.
3. Depreciation expense for year, furniture and fixtures, $9640.
4. Depreciation expense for year, delivery equipment, $26 460.
5. Sales salaries payable but unrecorded, $6400.
6. Office salaries payable but unrecorded, $1760.

Required

1. Prepare a worksheet for the year ended 30 June 2020.
2. Prepare an income statement for the year ended 30 June 2020.
3. Prepare a balance sheet as at 30 June 2020.
4. Make the necessary adjusting entries.
5. Make the closing entries.
6. Make any necessary reversing entries.
7. Do you think Donalds Juice Shop is in good financial position? Analyse and explain. (1500 words)