Reference no: EM132490952

Question - Presented below is the Statement of Financial Position of Welcome Company as of March 31, 2019:

Welcome Company Statement of Financial Position As of March 31, 2019
Assets	RM	Liabilities	RM
Cash	7,100	Accounts Payable	7,200
Accounts Receivable	5,000	Notes Payable	8,300
Inventory	13,500	Total Liab.	15,500
Prepaid Rent	3,300	Ordinary Share Capital	17,600
Equipment	15,600	Retained Earnings	11,400
		Total Stockholders' equity	29,000
Total Assets	44,500	Total Liab. & Stockholders' Equity	44,500

The following transactions occurred during April, 2019:

1. The company paid RM2,100 of the accounts payable.

2. The company acquired RM3,500 of inventory, paying 40% in cash and the remainder on open account.

3. The utility bill of RM600 for the month of April was paid.

4. The company received RM2,200 from its credit customers.

5. Sales of inventory for the month of April totaled RM12,900, of which RM5,400 was paid in cash and the remaining amount was on open account. The cost of the merchandise sold was RM8,100. Sales order of RM2,300 received from a customer on 29 April will be supplied in May.

6. The company paid RM1,600 of the note payable.

7. Depreciation on the equipment was RM600 for the month.

8. Additional equipment of RM1,700 was acquired. Of this amount, RM700 was paid in cash and the remainder was added to the note payable balance.

9. The balance in the prepaid rent account represented 3 months' worth of rent paid in advance as of March 31, 2019

10. Net income for the month ended April 30 was RM2,500.

Required - Prepare the Statement of Financial Position dated April 30, 2019 of the Welcome Company in proper format. Show your workings.