Presented below is the adjusted trial balance of Taylor Investment Advisers as at 30 June 2021.

a) Prepare Taylor Investment Advisers Income Statement for the year ended 30 June 2021. (8 Marks)

b) Prepare Taylor Investment Advisers Statement of Changes in Equity for the year ended 30 June 2021. (4 Marks)

Taylor Investment Advisers
Trial Balance
As at 30 June 2021
	Debit $	Credit $
Cash at Bank	32,000
Accounts Receivable	6,500
Office Supplies	1,500
Prepaid Rent	5,000
Equipment	145,000
Accumulated Depreciation - Equipment		1,250
Accounts Payable		20,500
Salary Payable		2,250
Interest Payable		250
Revenue received in advance		4,000
Bank loan (5 Years)		100,000
Taylors, Capital		30,000
Taylors, Drawings	2,500
Service Revenue		44,000
Rent Expense	3,500
Salary Expense	4,500
Supplies Expense	250
Depreciation Expense - Equipment	1,250
Interest Expense	250
	202,250	202,250

Taylor Investment Advisers
Trial Balance
As at 30 June 2021
	Debit $	Credit $
Cash at Bank	32,000
Accounts Receivable	6,500
Office Supplies	1,500
Prepaid Rent	5,000
Equipment	145,000
Accumulated Depreciation - Equipment		1,250
Accounts Payable		20,500
Salary Payable		2,250
Interest Payable		250
Revenue received in advance		4,000
Bank loan (5 Years)		100,000
Taylors, Capital		30,000
Taylors, Drawings	2,500
Service Revenue		44,000
Rent Expense	3,500
Salary Expense	4,500
Supplies Expense	250
Depreciation Expense - Equipment	1,250
Interest Expense	250
	202,250	202,250