The following balances were extracted from Billy Transport Services books on 31 August 2021.

$

Office equipment	15,000
Premises	100,000
Investment	13,700
Dividend received	4,020
Utilities	7,978
Insurance	8,786
Commission income	18,400
Drawings	9,300
Loan	60,000
Bank	44,906
Cash on hand	400
Capital	80,000
Transport income	110,620
Wages and salaries	24,050
Motor van	48,000
Motor van expenses	12,310
Trade receivables	22,700
Trade payables	34,090

Additional information:

The owner Billy issued a business cheque to pay for his office utilities of $144. He has forgotten to record this.

Required:

1. Prepare a Statement of Profit or Loss for the year ended 31 August 2021.

2. Prepare a Statement of Financial Position as at 31 August 2021.