Question 3 The following information relates to Pet Shop, a business making and selling children's toys. The statement of financial position was extracted on 31 May 2021. Ignore GST. Pet Shop Statement of Financial Position as at 31 May 2021 ASSETS LIABILITIES Cash in hand 4,000 Accounts payable: Cash at bank 105,000 Micky 2,800 Equipment 20,500 Furniture & fittings 26,060 OWNER'S EQUITY Accounts receivable: Capital* Pet Shop 120,000 Sherry 3,520 Drawings (1,600) - John 2,780 Profit 40,660 161,860 161,860 The following transactions were completed during June 2021: 2 June Sold goods on credit to Dean Electrical, S120. 5 June Purchased equipment on credit, 55,800 from Angel. 7 June Sherry returned goods of $500 which had been sold to them on credit in May 2021 9 June Cash sales, $18,060 11 June Received a cheque from John in settlement of his account balance on 31 May 2021. 18 June Sold goods on credit to Sherry, $280. 20 June Paid rent of $2,400 wages of $5,000; insurance of $600. 28 June Received a cheque from Sherry in full settlement of their account Required: (a) Prepare a Transaction Analysis Chart for June 2021. (b) Prepare a Statement of Financial Position as at 30 June 2021. (Total: 12+8 = 20 marks)