e Financial Reporting The following adjusted trial balance has been prepared at year's end. ESCAPE FROM NEW YORK - TRIAL BALANCE AS AT 30 JUNE 2020- Debit ($) 2 Credit ($) Cashe 34,300 Interest Expense- 490 Accounts Receivable 26,300 Doubtful Debts Expenses 3,200 Inventory (1 July 2019) 41,600 Shop Rent Expense 1,800 Telephone Expensee 1,300 Building 86,000 Depreciation Expense - Building 4,200 Sales Staff Wages Expense- 21,300- Ascum. Depreciation - Equipment Freight Inwards 4,3402 General Expensee 17,600 Capital (1 July 2019) 161,840 Drawingse 12,500 Sales Income 248,600 Sales Returns 7,450- Interest Payable 240 Discount Allowed 2,400 Cost of Sales 147.2002 Unearned Income 5,200 Discount Received 1,900 Freight Outwards 2,150 e Accounts Payable 6,200 e 4,800- 45,000 5,400- 2,800- Equipment Ascum. Depreciation - Building Depreciation Expense - Equipment Loan Payable Allowance for Doubtful Debts Insurance Expense Advertising Expense- Prepaid Rente 38,500 3,200- 3,600 3,750 6,600 $475,880 Continued on the next page... $475,880- Question (Continued) Requirements: a. Prepare a fully classified Income Statement for the year ended 30th June 2020. (10 marks) Prepare a Statement of Changes in Equity for the period and a fully classified Balance Sheet (must classify the assets and liabilities like we did in class) as at 30th June 2020, (10 marks) Income Statement For the Year Ending 30/6/204 $e DIT Statement of Changes in Equity For the Year Ending 30/6/204 Opening Capital (1/7/19) 1 1 1 1