Using the below transaction information (July 2019/June 2020) and Balance Sheet of Kumar Limited as at 30 June 2019 you are required to: 1) Prepare journal entries for the month of July 2019. (17 Marks) 2) Prepare adjusting entries for financial year end 30 June 2020. (20 Marks) 3) Prepare the balance sheet for Kumar Limited as at 30 June 2020. (25 marks) 4) List all the expenses and corresponding amounts that will appear in the income statement for the year ended 30 June 2020. (14 Marks) 5) Calculate the Gross Profit for Kumar Limited. (4 Marks) Kumar Limited Balance Sheet as at 30 June 2019 $ $ $ $ Current Assets Current Liabilities Cash 218 000 Accounts Payable 300 000 Accounts Receivable 352 000 Wages Payable 29 000 Inventory 350 000 Unearned Service Revenue 269 000 598 000 Prepaid Rent 68 000 988 000 Non Current Liabilities Non Current Assets Long Term Loan Land 1 620 000 Equipment 2 560 000 Shareholder's Equity 4 180 000 Share Capital 4 172 000 Retained Profits 398 000 5 168 000 5 168 000 3. Balance Sheet as at 30 June 2020 (25 Marks) Kumar Limited Balance Sheet as at 30 June 2020 $ $ $ $