Q.1 Using the following financial data given, prepare the statement of income for the six months ended 30 June 20X1 and the statement of financial position adjusted to an accrual basis 3 Below is the information about the cash flows for the six months ended 30 June 20x1 of Dollars limited (a US firm): Receipts $187000, Materials purchased $137.000, Services paid for $20,700 and Rent paid $7,850 Additional information that now has to be taken into account relating to the half year's transactions: Invoices issued to customers but unpaid totaled $28.500; Invoices received from suppliers but unpaid totaled $37.500 Invoices for services received but unpaid totaled $850 and half of the $6,700 payment for rent related to the following half year. In addition, the cash flow statement to calculate the net cash balance are as follows Total Operating cash $21.450 New capital $50,000 Lease payment $(80,000) Cash balance $(8,550)