Silver Screen Cinemas, a movie theater chain, opened in July 2018. The company carefully tracked all its cash receipts and cash payments but did not record any transactions. The following information is available at the end of its first year of operations, June 30, 2019.

Cash Receipts and Cash Payments (Rs. in thousands)

Cash Receipts	Cash Payments
Issue of Common Shares	120,000
Ticket and concession sales	400,000
Purchase of projection equipment	150,000
Rent	30,000
Insurance	12,000
Advertising	20,000
Utility bills	15,000
Salaries	150,000
Telephone	8,000
Income tax	60,000
Total	520,000

Additional Information:

1. At the end of June, customers owe Silver Screen Cinemas Rs. 18,000 for tickets and concessions they have received but not yet paid for.
2. The projection equipment was purchased at the beginning of July and has an estimated useful life of ten years.
3. On July 1, the company began renting space at a cost of Rs. 3,500 per month on a one-year lease. As required by the lease contract, the company paid the last month's (July 2019) rent in advance.
4. The insurance policy was purchased on July 1 and is effective for one year.
5. At June 30, Rs. 15,000 is owed for unpaid salaries.
6. At June 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 June 30, 2019. b. Prepare an accrual-based Income Statement, and Statement of Financial Position (Balance Sheet) for the year ended June 30, 2019.