N On August 1, 20XX, Ajay and Jeevan quit as senior executives in a mutual fund to set up MoneyCare E Company, an investment advisory service. Each of them deposited 250,000 in MoneyCare's bank account in exchange for 5,000 shares. Also, they raised an interest-free loan of 320,000 for the company from their friend. They rented an office for the company in the city, costing 25,000 per month payable on the last day of the month. At the landlord's insistence, they paid a deposit of 370,000, refundable on MoneyCare vacating the place. They leased two computers for one year on a monthly rental of 26,000 per computer and subscribed to a financial database for a fee of 11,000 per month. Computer rental and database fee were payable at the beginning of the month. They appointed a secretary on a monthly salary of 59,000 and an assistant on a monthly salary of 5,000. Depending on their credit rating, MoneyCare's customers paid in one of the following ways: 1. Before receiving service. 2. Immediately on receiving service. 3. Within one month after receiving service. During August, MoneyCare provided services for 370,800 and raised invoices with the following payment terms: . Fifteen customers with invoices totalling 62,100 could pay until end of September. Two customers with invoices totalling 8,700 had to pay immediately. MoneyCare's other transactions in August were as follows: Paid computer rental, database fee, office rent and salaries as agreed. Received from customers amounts totalling 24,100 including 315,400 from customers who chose to pay early. Paid for office supplies costing 1,800 but did not use them. Received 9,000 from a customer for service to be provided in September. Earned interest income of 460 on the bank account. Required 1. Prepare Money Care's financial statements for August. 2. What do you think of the company's financial performance