Financial data for Safety Hire as of 30 June 2019 are:
Accounts receivable
$63000
Equipment hire Income
$170000
Accounts payable
$40000
Michael Donato, capital
?
Cash at bank
$45000
Mortgage payable
$130000
Buildings
$85000
Wages expenses
$75000
Advertising expenses
$30000
land
Hire equipment
$180000
Loan payable
$50000
Electricity expense
$18000
Telephone expense
$7500
Required:
Prepare an income statement for the month of June and a balance sheet in account format for Safety Hire as at 30 June 2019.
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