Thomas Toy established Thomas Toys Services (TTS). The closing balance sheet items are given below for TTS i n accounting equation form, as at 30 June 2017. The following transactions occurred between 1 July 2017 and 30 June 2018: Date Cash Accounts receivable Office Supplies = Accounts payable Mortgage Capital June 30 2017 55,000 26,300 600 5000 45,000 31,900 1/7/2017 Purchased inventory for $7,000 (700 units at $10 each). Paid $3,000 cash and agreed to pay the balance on 15/7/2017. Paid $50 cash for Courier services. 5/9/2017 Received $3,800 from Trade Debtor A (included in Accounts receivable). 26/9/2017 Sent invoice to customer $6,320 (sale of 160 units). 30/10/2017 Thomas Toy invested additional $5,000 cash into the business. 31/12/2017 Paid $2,400 for an annual insurance policy. 31/12/2017 Paid Wages of $2,500. 1/1/2018 Purchased office equipment for cash $4,200. Straight line depreciation of 10% applies. 15/1/2018 Reduced Mortgage Loan by $20,000. 12/2/2018 Recorded cash Sales $9 350 (sale of 260 units). 15/3/2018 Purchased Land $20,000 for cash. 20/4/2018 Paid for office rent in cash $600. 1/5/2018 Recorded $400 invoice received from DEF Ltd for already received advertising services. 10/5/2018 Paid $2,500 of Accounts payable. 15/5/2018 Paid $200 for sales commission. 25/5/2018 Recorded credit Sales $1,750 (sale of 50 units). 1/6/2018 Received $500 invoice from FGH Ltd for already received rent services, payable 1/7/2018 25/6/2018 Purchased $400 of office supplies on credit, payable in 30 days. The office supplies will be used in June and July 2018 30/6/2018 Performed a stock count and found 224 units of inventory left. A physical count of office supplies on hand gives a total of $ 380. REQUIRED 1. Prepare worksheet entries for the business transactions for the year ended 30 June 2018. Ignore GST. End-of year adjustments are required for insurance, depreciation, inventory and office supplies only. (30 marks) 2. Prepare an income statement for the period ended 30 June 2018 (10 Marks) 3. Prepare a classified balance sheet as at 30 June 2018 (10 marks)