A trial balance for Flemington Fashions Pty Ltd is shown below.

	FLEMINGTON FASHIONS PTY LTD Unadjusted Trial Balance as at 30 June 2017
	Account	Debit			Credit
	Cash at bank Accounts receivable Inventory Supplies GST receivable Store equipment Accumulated depreciation – store equipment Accounts payable Loan payable GST payable Share capital Retained earnings Sales Sales returns and allowances Discount received Cost of sales Freight inwards Discount allowed Sales salaries expense	$	42 245 45 175 59 360 825 1 210 94 630 2 740 176 280 2 910 1 200   49 780		$	20 265 9 580 26 620 2 420 90 890 21 470 302 520 2 590
		$	476 355		$	476 355

Required

A. Prepare a worksheet for Flemington Fashions Pty Ltd. Use the following information to make adjusting entries:

       1.  Supplies on hand at 30 June, $260.

       2.  Depreciation on the store equipment, $8385.

       3.  Interest accrued on the loan payable, $1980.

       4.  Income tax expense and payable for the year, $19 600.

B. Prepare an income statement, a statement of changes in equity and a balance sheet for the year ended 30 June 2017.

C. Prepare closing entries.