Jones, Jackman and Johnson are partners in the consulting firm of Triple J Partners. The balance sheet of the partnership as at 30 June 2025 is set out below.

Inventory at 30 June 2026 was \($38700\) and Accounts Payable was \($18000\).
Non-current assets are depreciated at 10% per annum.

Required

(a) Prepare the income statement for the year ended 30 June 2026.

(b) Prepare a statement of changes in partners’ equity for the year ended 30 June 2026.

(c) Prepare the balance sheet as at 30 June 2026.

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CURRENT ASSETS Cash at bank Accounts receivable TRIPLE J PARTNERS Balance Sheet as at 30 June 2025 $ 30 900 28 000 Inventory 40 000 $ 98.900 NON-CURRENT ASSETS Plant and Equipment 76 000 Office furniture 30 000 106 000 $ 204 900 CURRENT LIABILITIES Accounts Payable (for purchases) 19 500 EQUITY Partner's capital accounts: Jones 55 000 Jackman 52 000 Johnson 54 000 161 000 Partner's retained earnings: Jones 8 200 Jackman 8 200 Johnson 8 000 24 400