P3.18 Prepare journal entries, an income statement for the year ended 30 June 2022 and a balance sheet as at 30 June 2022. Correction to question: 8 . wages paid $22,000 (reduce the wages payable). During the year ended 30 June 2022, the following information was recorded in the company's accounts: 1 Credit sales, $200000. 2 Cash sales, $6070. 3 Collections from customers, $150000. 4 Purchases of inventory on credit, $70000. 5 Payments of accounts payable, $50000. 6 Cost of goods sold, $80000. 7 Wages expense, $90000, not yet paid. 8 Wages paid, $22000. 9 Paid tax payable, $6000. 10 Cash dividends of $20000, declared and paid