Question 3-Preparation of Financial As you are an Accounting student one of your friends (his name is Mick Magic) has asked you to assist them with preparing the financial statements for their business on 30 June 2020, The name of their business is "Electric Dreams". It is now the end of the financial year, ending 30 June 2020 and your friend has asked you to assist with preparing financial statements for "Electric Dreams". He has prepared the final adjusted trial balance below. Please note- although the amounts in the trial balance below are all correct, your friend may not the accounts in the correct order. 6. The loan will only be repaid in 2025. Required: Prepare an Income Statement, Statement of Changes in Equity and a Balance Sheet from the Trial Balance provided below for Electric Dreams. Electric Dreams Trial Balance Debit ($) Credit ($) for the year ended 30 June 2020 Loan Payable 8,500 Supplies on Hand 4,500 Supplies used Expense 48,000 Capital Mick Magic 1 July 2019 45,185 Equipment 20,000 Cash at Bank 34,250 Salaries and Wages expense 24,850 Computer Equipment 5,800 Services Fees Revenue 101,000 Accounts Payable 4,215 Repairs and Maintenance Expense 5,000 Rent Expense 8,000 Accounts Receivable 8,500 Totals 158,900 158,900

could you please fill the table and be clear , I need to understand that.

Question 3 - Preparation of Financial Statements (18 marks) As you are an Accounting student one of your friends this name is Mick Magic) has asked you to assist them with preparing the financial statements for their business on 30 June 2020. The name of their business is "Electric Dreams". It is now the end of the financial year, ending 30 June 2020 and your friend has asked you to assist with preparing financial statements for "Electric Dreams". He has prepared the final adjusted trial balance below. Please note - although the amounts in the trial balance below are all correct, your friend may not the accounts in the correct order. The loan will only be repaid in 2025. Required: Prepare an Income Statement, Statement of Changes in Equity and a Balance Sheet from the Trial Balance provided below for Electric Dreams. Debit ($) Credit ($) 8.500 4.500 18.000 45,185 Electric Dreams Trial Balance for the year ended 30 June 2020 Loan Payable Supplies on Hand Supplies used Expense Capital - Mick Magic 1 July 2019 Equipment Cash at Bank Salaries and Wages expense Computer Equipment Services Fees Revenue Accounts Payable Repairs and Maintenance Expense Rent Expense Accounts Receivable Totals 20.000 34.250 24.850 5,800 101,000 4.215 5,000 8.000 8.500 158,900 158.900 Income Statement 10 Statement of Changes in Equity Balance Sheet