I need help with preparing a statement of financial position. I completed the income statement and changes in equity statement. This information is useful for statement of financial position. Also, this is using accrual basis of accounting. Show all work please.

Problem 4-6A (Part l evel Submission) Near the end of its first year of operations, December 31, 2018, Creative Designs Ltd. approached the local hank for a $26,000 loan and was asked to submit financial statements prepared on an accrual basis. Although the company kept no armal eccounting records, l dit maintain record o cash receipts and payments. The allowing "forrnation is available or the ear ended December 3 Cash Receipts Cash Payments issue of common shares 20,000 Fees earned 164,200 Fquipment 36,300 Supplics 8,100 Rent 22,160 Insurance 3,840 ncome tax 5,800 Advertising 5,800 59,100 Dividends derlared 10,600 184,200 151,700 Additional information: 1. Fees from design work eaned but not yet collected amounted to $2,400 2. The equipment was purchased at the beginning of January and has an estimated six-year useful life. The company uses straight-line depreciation. 3. Supplies on hand on December 31 were $1,390 4. Rent payments included a $1,660 per month rental fee and a S2,240 osit that is refuridable at the end af the two-year lease. (Hint: Use the Prepaid Rent account for the refuridable depasit) 5. The insurance was purrhased an February 1 far a one-year periad expiring lanuary 31, 2019 6. Salarics carned for the last four days in Dcccmbcr and to be paid in anuary 2019 amounted to 53,250 . At year end, it was determined that an additional $7,500 is owed for income tax Yaur answer is correct. Calculatc the cosh balancc at Docember 31 Cash Balance 32500 Prepare an accrual-based income statement for the year. (Round answers to 0 decimal places, e.g. 5,275.) CREATIVE DESIGNS LTD Income Statement Year Ended December 31, 2018 Revenues 166600 Fees Earned Expenses 19920 Rent Expense 3520 Insurance Expense Advertising Expense 5800 Salaries Expense 62350 6050 Depreciation Expense 6710 Supplies Expense 104350 Total expenses Income before income tax 62250 13300 Income Tax Expense 48950 Net income (62) Your answer is correct Prepare an accrual-based statement of changes in equity for the year. (For decreases use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45).) CREATIVE DESIGNS LTD. Statement of Changes in Equity Year Ended December 31, 2018 Common Shares Retained Earnings Total Equity Balance, January1 0 Issued common shares 20000 20000 Income 48950 48950 Dividends declared (10600) (10600) 20000 38350 58350 Balance, December 31 SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT LINK TO TEXTLINK TO TEXT LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Statement of Financial Position December 31, 2018 Assets Current Assets s32500 Cash Prepaid Insurance 3520 Supplies 1390 Total Current Assets Property, Plant and Equipment 363()( ) Equipment Less Accumulated Depreciation- Equipment 6050 30250 Liabilities and Shareholders' Equity Current Liabilities