Radiant Rentals, a car rental service, opened in May 2021. The company did not record any transactions since its opening, but carefully kept track of all its cash receipts and cash payments. The following information is available at the end of its first year of operation, April 30, 2022.

Cash Receipts and Cash Payments (Rs. in thousands)

Cash Receipts	Cash Payments
Issue of Common Shares	100,000
Rental income	400,000
Purchase of vehicles	200,000
Rent	30,000
Insurance	12,000
Advertising	20,000
Utility bills	18,000
Salaries	150,000
Telephone	8,500
Income tax	60,000
Total	500,000

Additional Information:

1. At the end of April, customers owe Radiant Rentals Rs. 20,000 for rentals they have received but not yet paid for.
2. The vehicles were purchased at the beginning of May and have an estimated useful life of ten years.
3. On May 1, the company began renting office space at a cost of Rs. 2,500 per month on a one-year lease. As required by the lease contract, the company paid the last month's (May 2022) rent in advance.
4. The insurance policy was purchased on May 1 and is effective for one year.
5. At April 30, Rs. 12,000 is owed for unpaid salaries.
6. At April 30, an additional Rs. 11,500 is owed for income taxes.

Required:

In good format, and making whatever assumptions you feel appropriate:

a. Calculate the cash balance at April 30, 2022. b. Prepare an accrual-based Income Statement, and Statement of Financial Position (Balance Sheet) for the year ended April 30, 2022.