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:.

Account

Balance ($)

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

88,000

Insurance expense

7,000

Cash at bank

48,000

Equipment

190,000

Michael Don, capital

?

Required:

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

b) a balance sheet in narrative format for Safety Hire as at 30 June 2019.

c) a statement of changes in Equity for the year and determine Michael Don's capital at 30 June 2018?