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The following is a list of account balances for Albert Traders for the financial year ended 30 June 2022. (Albert Traders does not pay tax
The following is a list of account balances for Albert Traders for the financial year ended 30 June 2022. (Albert Traders does not pay tax since it is not a company) Item of account balances Cash Accounts receivable / Debtors Inventory Plant and Equipment Accumulated Depreciation Accounts payable / Creditors Mortgage Loan Capital Swanston Retained Profit @ Start (Swanston) Drawings Paid Sales Cost of Goods Sold Total Other Expenses $ 12,000 33,000 45,000 380,000 100,000 22,000 150,000 120,000 83,000 68,000 400,000 240,000 97,000 Required: a) Prepare a properly classified Statement of Financial Performance (Profit and Loss. Statement) for the year ended 30 June 2022. (3 Marks) b) Prepare a classified Statement of Financial Position (Balance Sheet) as of 30 June
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