The following is a list of balances from the ledger of Raj Kumar after trading for the year ended 30 June 2018

Land & Buildings 783,000

Motor Vehicles 45,000

Plant & Machinery 194,000

Bank Overdraft 65,400

Office Furniture and equipment 24,600

Accounts Receivable 70,000

Accumulated Depreciation - Plant & Machinery 10,000

Accumulated Depreciation - Office Furniture 1,800

Accumulated Depreciation - Motor Vehicle 2,000

Sales 1,110,800

Inventory 30 June 2018 36,000

Depreciation 2,800

Cost of Good Sold 921,000

Mortgage 168,000

Bad Debts recovered 1,000

Salaries - Office Staff 30,000

Accounts Payable 40,000

GST Payable 29,600

Capital 768,420

Insurance 1,400

Advertising 5,000

Office Expenses 11,400

Long Service Leave Expenses 800

Bad Debts 1,420

Drawings 18,000

Salaries - Sales Staff 54,000

Accured Income 800

Prepaid Expenses 1,500

Provision for Long Service Leave 2,500

Rent Income 1,200

The Perpetual Inventory system is used

prepare classified Income statement for the year ended 30 June 2018

prepare classified balance sheet as at 30th June 2018