The unadjusted trial balance and some adjusting entries for Sunshine Ltd. for the year ended 30 June 2022 is supplied below:

Sunshine Ltd

Unadjusted Trial balance, as at 30 June 2022

Account	Debit	Credit
Cash	$121 800
Accounts receivable	76 000
Supplies	2 000
Prepaid insurance	3 700
Prepaid rent	18 000
Equipment	65 000
Unearned revenue		22 500
Notes payable		100 000
Owners Capital		100 000
Service revenue		76 000
Advertising expense	7 000
Owners drawings	5 000
Total	$298 500	$298 500

The following end of the year adjustments are to be made in the final accounts:

Depreciation expense $1 080.

Unpaid interest on Notes Payable $500.

Insurance expense for the year $308.

Outstanding salaries to employees $8 000.

REQUIRED:

1)Prepare an Income statement, and

2)A balance sheet for Sunshine Ltd. for the year ended 30 June 2022 on the basis of the above unadjusted trial balance and the adjustments.