Prepare an Income Statement for year ended on 30 June 20x8 and balance sheet as at 30 June 20x8.

Question l- Adjusting entries, Preparing Income Statement and Statement of Financial Position The trial balance at 30 June 20x8 for Kitty's Kitchen Services Ltd. is as follows: Credit 1,800 Acc No. 100 104 112 113 130 131 200 213 300 310 400 500 510 515 530 Account Title Debit Cash 7,750 Accounts Receivable 6,000 Prepaid Insurance Supplies 2,000 Office Equipment 15,000 Accumulated Depreciation Accounts Payable Uneamed Revenue (received in advance) Share Capital Retained Earnings Service Revenue Salaries Expense 44,000 Rent Expense 1,000 Insurance Expense 600 Electricity Expense 2.000 $ 80,150 10,000 4,500 4,000 30,000 3,750 27,900 $ 80,150 Additional accounts may be added to the chart of accounts as needed. Other Data: 1. Supplies on hand at 30 June total $1,000 2. An electricity bill for $150 for June has not been recorded and will not be paid until next month. 3. The prepaid insurance is the annual (yearly) premium for insurance commencing 1 January 2008 4. Services were performed during the curent period that relate to $2,500 of Uneamed Revenue recorded in the previous period. 5. Salaries of $1,500 are owed at 30 June. 6. Depreciation expense for the year is $2,000. 7. Invoices representing $3,000 of services performed during the month have not been recorded as of 30 June 20x8