Answer:
The statements required have been prepared below
Explanation:
The income statement extract:
Revenue $86,800
Cash expenses ($69,900)
Net income $16,900
Statement of changes in equity extract:
Retained Earnings Capital Total
$ $ $
Bal b/f nil nil nil
paid in capital 159,000 159,000
net income 16,900 - 16,900
Dividends (10,500) - (10,500)
Balance c/f 6,400 159,000 165,400
Balance sheet extract
Assets
Cash (159000+86800-69900-10500) 165,400
Total assets 165400
Shareholders' equity
Share capital 159,000
Retained earnings 6,400
Total shareholders' fund 165,400
Cash flow extract:
operating cash flow
Net income 16,900
financing activities
share capital 159,000
dividends (10,500)
Increase in cash and cash equivalent in the year 165,400
