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Jo's Gadgets had the following adjusted trial balance as at 30 June 2020. Jo's Gadgets Adjusted Trial Balance As at 30 June 2020 Account Debits

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Jo's Gadgets had the following adjusted trial balance as at 30 June 2020. Jo's Gadgets Adjusted Trial Balance As at 30 June 2020 Account Debits Credits $ $ Accounts 1,612,000 Receivable Accounts Payable 434,800 Inventory 2,400,000 Machinery 2,800,000 Accumulated 280,000 Depreciation- Machinery Mortgage Loan 2,184,000 (Payable) Capital 2,400,000 Drawings 560,000 Sales Revenue 3,280,000 Interest Revenue 320,000 Electricity Expense 188,800 Rent Expense 351,200 2,184,000 Depreciation- Machinery Mortgage Loan (Payable) Capital Drawings 2,400,000 560,000 Sales Revenue 3,280,000 320,000 Interest Revenue Electricity Expense 188,800 Rent Expense 351,200 Salaries Expense 420,000 56,000 Depreciation Expense Unearned Revenue 163,200 Cash at Bank 674,000 TOTALS 9,062,000 9,062,000 Required: 1. Prepare an Income Statement for Jo's Gadgets for the financial year ended 30 June 2020 2. Prepare a statement of Changes in Equity for Joe Codigo for the financial yea

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