Thefollowingaccountsandcorrespondingbalancesareextractedfromfinancialstatements for the month ended 31 March 2019 of Kings Ltd., a service company operating in the education industry in NewZealand:

Cash 52,000

Receivables 28000

office supplies

prepaid insurance 1300

plant and equipment 250,000

accumulated depreciation- plant and equipment 58600

accounts payable 41,200

salaries payable 12000

rent received in advance 24000

share capital 150,000

retained earnings 32,000

service revenue 356,000

rent revenue 28,000

supplies expense 35,000

rent expense 59,000

insurance expense 4,200

depreciation expense 41300

salaries expense 228,600

Use the above information to create an income statement and a balance sheet for Kings for the month ended 31 March 2019.

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