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Sales 242,000 Selling Expenses 36,000 Wage Expense 75,000 Area: Classified Balance Sheet and Income Statement structure/format for a Service Business 5. The following balances were

Sales 242,000 Selling Expenses 36,000 Wage Expense 75,000 Area: Classified Balance Sheet and Income Statement structure/format for a Service Business 5. The following balances were taken from the accounting records of Singapore Cleaning Services Pty, Ltd. as at 30^("th ") June. Cash $6000 Accounts receivable 11000 Supplies inventory 4500 Plant & equipment 78000 Accumulated depreciation 7000 Accounts payable 2000 Share capital 1 January 49250 Dividends 6000 Fees revenue 189000 Supplies expense 98000 Selling expenses 8000 Financing expenses 1750 General & administrative expenses 12000 Income tax expense 22000 (a) Prepare an income statement for the business for the year ended 30^("th ") June. (b) Prepare a classified balance sheet for the business as at 30^("t

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