Michael Don owns an equipment hire business under the name Safety Hire. Financial data for Safety Hire as of 30 June 2019 are shown as below:

Accounts receivable	$ 73,000	Wages expense	$ 78,000
Equipment hire income	200,000	Advertising expense	32,000
Rent revenue	9,000	Prepaid insurance	9,000
Accounts payable	38,000	Insurance expense	7,000
Cash at bank	48,000	Equipment	190,000
Michael Don, capital, 1 July 2018	160,000	Unearned revenue	50,000
Drawings	20,000

Required:

Prepare an income statement for the business for the year ending 30 June 2019.

Prepare a Statement of Changes in Equity for the year and determine Michael Dons capital at 30 June 2019.