S Hine began a window cleaning service by transferring C500 from his personal savings account to a bank account opened in the name of business, Shiney Glass Service.

A second-hand scooter was purchased at a cost C800; with C200 being paid immediately and the balance to be paid within twelve months. In addition, C150 was paid for soap, sponges, and other supplies to be used in the business and C50 paid for newspaper advertising.

After six months, on 30 June 20X1 the records of the business showed that C4 500 had been collected in cash from customers for services and that other customers owed C300 for washing their windows. The business had bought additional supplies for cash costing C400; however, supplies that had cost C100 were on hand unused at the period end.

C150 was paid for petrol and oil used in the scooter and C500 had been paid towards the amount owing for the scooter.

S Hine had withdrawn sufficient cash from the business each week to pay his personal living expenses.

The business had a total of C400 of cash in the bank at the end of the period.

You are required to :

1. Determine the amount of cash Hine had withdrawn from the business.
2. Prepare an income statement and statement of changes in equity for the six month period ended 30 June 20X1 and a statement of financial position at 30 June 20X1.