QUESTION 2 Financial Reporting

You are provided with the following information for Little Store of Happiness for the year ending 30^th June 2020.

Trial Balance	Debit	Credit
Electricity Payable		560
Motor Vehicle	65 200
Prepaid Advertising (3 months)	8 000
Accounts Receivable	29 500
Loan Payable (5 years)		80 900
Furniture	42 000
Allowance for Doubtful Debts		780
Loan Payable (10 months)		2 500
Accumulated Depreciation Motor Vehicle		10 200
Cash	38 600
Equipment	166 000
Loan Payable (9 months)		2 500
Supplies	2 160
Accumulated Depreciation Furniture		8 300
Inventory (30/6/20)	45 200
Accounts Payable		18 700
Capital (1/7/19)		171 870
Drawings	18 200
Profit (30/6/20)		79 350
Interest Receivable	1 000
Prepaid Rent (6 months)	2 700
Accumulated Depreciation Equipment		37 600
Unearned Income		8 600
Prepaid Insurance (15 months)	6 000
Interest Payable		2 700
Totals	424 560	424 560

Prepare a Statement of Changes in Equity for the period ending 30^th June 2020

Prepare a fully classified Balance Sheet as at 30^th June 2020.