Reference no: EM132671459

Michael Don owns an equipment hire business under the name Safety Hire Financial data for Safety Hire as of 30 June 2019 are shown as below:.

Account                               Balance ($)
Accounts receivable           73,000
Wages expense                   78,000
Equipment hire income          200,000
Advertising expense               32,000
Rent revenue                         9,000
Prepaid insurance                   9,000
Accounts payable                  88,000
Insurance expense                  7,000
Cash at bank                        48,000
Equipment                          190,000
Michael Don, capital                    ?

Required:

Problem a) an income statement for the business for the year ending 30 June 2019.

Problem b) a balance sheet in narrative format for Safety Hire as at 30 June 2019.

Problem c) a statement of changes in Equity for the year and determine Michael Don's capital at 30 June 2018?