Question 2 (5 + 3 + 4 = 12 marks) During the year ended 30 June 2017, Skilled Services, a provider of temporary secretary personnel, had collected receipts from clients for a total value of $250 000. A part-time receptionist was hired to commence in August 2017, salary at $1500 per month. Wages of $136 000 had been paid to the temporary workers, rental of office space and electricity costs were $12 000 and $13 700 respectively for the year, and the owners withdrew $20 000 for their personal use. Required: (a) Prepare an income statement for the year ended 30 June 2017 for Skilled Services. (b) Skilled Services is a sole trader. Compare the liability of a sole trader with that of a company shareholder. (c) Applying the Conceptual Framework Principle, explain why the cash received from the sale of a good is income yet the cash contributed by the owner is not income