The following table shows the accounts from The Mockers Ltd for the year ended 31 March 2017.

Required:

1. Prepare a Statement of Changes in Owners Equity
2. Prepare a Balance Sheet.

Other information is: The repayment terms for the mortgage: payments of $1,000 are due on the 1 December each year. The profit for the year was $11,000 after tax.

Account	$
Accounts payable	5,750
Accounts receivable	8,250
Accumulated depreciation	11,250
Cash	2,250
Selling and Administration expense	18,500
Depreciation expense	3,000
Dividends paid	5,500
Equipment	15,250
Income tax expense	3,000
Interest expense	1,000
Inventory	7,750
Land	6,750
Mortgage	10,000
Retained earnings 01/04/16	7,750
Sales revenue	35,000
Service revenue	5,000
Share capital	1,500
Supplies on hand	1,500
Supplies expense	3,500