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The following data are obtained from a single entry set of books kept by PKC proprietor of retail store: January 1 June 30 Cash S 390 $ 4,110 Notes receivable 2,000 1,200 Accounts Receivable 4,500 8.800 Accrued interest on N/R 120 100 Merchandise inventories 3,800 1,000 Prepaid Operating expense 250 200 Store equipment 3,250 3,000 Notes Payable 1,000 1,200 Accounts Payable 3,500 2,500 Accrued interest on N/P 40 50 Accrued operating expense 270 300 6,500 The cash book shows the following information: Balance January 1 $ 1,500 Receipts: Accounts receivable $ 4,850 Notes Receivable 1,500 Interest income 150 8,000 Payments: Accounts payable $ 5,250 Notes payable 800 Interest expense 155 Operating expenses 1,650 Withdrawals 600 8,455 Balance, March 31 ($ 455) Required: 1. Calculate net income or loss for the six-month for the period by considering change in capital. (4) 2. Compute sales to prepare the income statement. A Font AaBbcc AaBBCD AaBbc AaBbcel AaB Aabbet Aabcd att 1 Normal 1 No Spac. Heading 1 Heading 2 Title Subtitle Subtle Em Emp Paragraph Styles 04. The following data are obtained from a single entry set of books kept by PRC proprietor of retas store January 1 June 30 Cach S 390 54,110 Notes receivable 2.000 1,200 Accounts Receivable 4,500 8,800 Accrued interest on N/R 120 100 Merchandise inventories 3,800 1,000 Prepaid Operating expense 250 Store equipment 3,250 Notes Payable 3,000 1,000 1,200 Accounts Payable 3,500 2,500 Accrued interest on N/P 40 50 Accrued operating expense 270 300 200 $1,500 $ 4,850 1,500 150 5.500 8,000 The cash book shows the following information: Balance January 1 Receipts: Accounts receivable Notes Receivable Interest income Payments Accounts payable Notes payable Interest expense Operating expenses Withdrawals Balance, March 31 Required: $5,250 800 155 1,650 600 8.455 IS 455) 1 Calculate net income or loss for the six-month for the period by considering change in capital 2. Compute sales to prepare the income statement 14)