Jacques' trial balance as at 31 July 2022 was as follows: $ Capital account as at 1 August 2021 Creditors Debtors Cost of goods sold Bank overdraft Sales Stock Motor vehicle Salaries Miscellaneous income Rent Insurance Drawings 15,100 96,000 26,000 14,000 9,500 12,500 12,500 21,400 207,000 $ 19,500 14,000 4,500 162,000 7,000 207,000 The following information is relevant: 1. Salaries payable but unpaid at 31 July 2022 amounted to $500. 2. Rent accrued and unpaid to 31 July 2022 amounted to $2,000. 3. The figure for insurance includes an amount of $600 which relates to the year commencing 1 August 2022. Prepare Jacques's income statement for the year ended on 31 July 2022 and statement of financial position as at that date after making the necessary adjustments. [Gross profit = $66,000; Net profit = $36,600; Net assets / Capital = $34,700]