final statement

Question 1 Financial Statements (6.5 marks) Logan's Gadgets had the following adjusted trial balance as at 30 June 2020. Logan's Gadgets Adjusted Trial Balance As at 30 June 2020 Account Debits Credits $ $ Accounts Receivable 1,812,000 Accounts Payable 634,800 Supplies 2,600,000 Machinery 3,100,000 Accumulated Depreciation Machinery 280,000 Mortgage Loan (Payable) Capital 2,384,000 2,800,000 Drawings 560,000 Sales Revenue 3,280,000 Interest Revenue 350,000 Electricity Expense 218,800 Rent Expense 381,200 Mortgage Loan (Payable) 2,384,000 Capital 2,800,000 Drawings 560,000 Sales Revenue 3,280,000 Interest Revenue 350,000 Electricity Expense 218,800 Rent Expense 381,200 Salaries Expense 450,000 Depreciation Expense 76,000 Unearned Revenue 243,200 Cash at Bank 774,000 TOTALS 9,972,000 9,972,000 Required: 1. Prepare an Income Statement for Logan's Gadgets for the financial year ended 30 June 2020 2. Prepare a Statement of Changes in Equity for Logan's Gadgets for the financial year ended 30 June 2020. 3. Prepare a classified Balance Sheet for Logan's Gadgets in the narrative format as at 30 June 2020