Financial balances for the bicycle hire business of Bets Bikes on 31 May 2021 are provided below:

Cash at bank	$16,350	Advertising expense	$1,950
Accounts receivable	52,500	Bet, capital 1 May, 2021	156,000
Supplies	11,250	Repairs expense	3,600
Office Equipment	4,500	Telephone expense	900
Bicycles	150,000	Wages expense	7,200
Accounts Payable	15,750	Bet, drawings	6,000
Loan Payable	165,000	Supplies expense	3,000
Service Income	31,500

Required:

a) Prepare a statement of financial performance for the month ended 31 May 2021. (9 marks)

b) Prepare a statement of changes in equity for the month ended 31 May 2021 (5 marks)