Answer:
Although the Question seems incomplete, i have made out the Income statement, Balance sheet and Shareholders'equity statement from the information provided to ease you into completing it as soon as the full details of questions is provided
Explanation:
Income Statement
For the Year Ended 31 December 2018
Sales Not Provided
<u>Income</u>
Accrued interest on loan (8% x 10/12 x 30,300) $1939.2
Total Income $1,939.2
<u>Expense</u>
Depreciation $12,000
Employee Salaries & Wages ($1,700 x 2 x 12) $40,800
Interest on loan Accruals (12% x 3/12 x $72300) $2,169
Insurance (recognizable in 2018 is half of $6,400) $3,200
Total expenses $58,169
Net Loss -$56,229.8
Dividend Paid -$3,600
Net transfer to retained earnings -$59,829.80
Balance Sheet
As at December 31, 2018
Current Account
Supplier loan (Accounts receivable) A $30,300
Fire insurance policy prepayment $3,200
Stock in hand $1,010
Prepaid rent $1,400
Total Current Assets $35,910
Current Liability
Customer Advance Payment $1,980
Total Current Liability $1,980
Long term liability
12% interest backed 10yr Bank loan $72,300
Total Long term liability $72,300
Total Net Assets -$38,370
Shareholders Fund (Statement of Shareholders'equity)
Retained Earnings transferred from Income statement -$59,829.80
