The following account balances, prepared on an accrual basis, relate to Game Zone Ltd for the year ended at 30 June 2013.

Additional information at 30 June 2013:
€¢ Salaries of $98 000 above do not include an amount of $3000 owing to employee's for the last week of June 2013.
€¢ Repairs and maintenance of $37 000 above includes an amount of $4000 paid in advance for work to be completed in July 2013.
€¢ $20 000 depreciation is to be charged on equipment for the year.
Required:
a) Prepare an income statement for Game Zone Ltd for the year ending 30 June 2013.
b) Prepare a classified balance sheet for Game Zone Ltd at 30 June 2013.

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Salaries Security expenses Rent expense Repairs and maintenance Accounting and audit fees Interest on loan Loan from bank (payable 30 Oct. 2015) Lighting & power Equipment (cost) Accumulated depreciation equipment (1 July 2012) Share capital Retained profits 1 July 2012 Cash at bank Income Bad debts expense Accounts payable S98 000 S35 000 S14 000 S37 000 S7 100 S6 000 S60 000 S23 000 S610 400 S60 000 400 000 S37 000 S26 000 S290 000 S2 300 S11 800