Slick Traders supplies the following trial balance and additional information at 30th June 2021. Required: Slick Traders Trial Balance at 30th June 2021 Account Debit Credit Cash at bank 14,500 Petty cash Advance 300 Accounts receivable 20,000 Allowance for doubtful debts 1,000 Inventory (1/7/2021) 20,000 Office equipment - cost 18,000 Accumulated depreciation - office equipment 5,400 Motor vehicles - cost 20,000 Accumulated depreciation - motor vehicles 6,000 Land and buildings 320,000 - 16,400 80,000 1,000 30,000 16,000 240,000 60,000 Accounts payable Loan from South Bank (Due 1/8/24) Accrued expenses GST collected GST paid Capital (1/7/2021) I Drawings Sales Discount received Depreciation - office equipment Depreciation - motor vehicles Wages and salaries Advertising Motor vehicle expenses 300,000 200 1,800 2,000 40,000 12,000 9,000 Interest on loan 4,200 Discount allowed 400 Doubtful debts 500 Insurance 4,500 Light, power and telephone 5,400 Stationery expense 1,400 Freight inwards 10,000 Purchases 100,000 680,000 680,000 Additional Information: A stock-take at 30th June 2021 revealed closing stock of $25,000 50% of wages and salaries relate to sales staff, while the remainder relates to office staff Motor vehicles are used wholly by sales staff a) Prepare a properly classified income statement for the year ended 30th June 2021 (The statement should show Cost of Goods Sold and other operating expenses should be classif marketing, administration and financial expenses) b) Prepare a properly classified balance sheet as at 30th June 2021