QUESTION	10 Marks
Ms Indy opened uChampion Painters (uCP) on 1 June 2021.
On 31 May 2022, records show the following accounts:
	$'000
Accounts receivable	167
Repairs expense	102
Painting supplies used	156
Painting revenue	1229
Long term loan	500
Ms Indy, drawings	220
Building	600
Ms Indy Capital	900
Salaries expense	176
Vehicle	681
Painting supplies	70
Equipment (painting)	210
Accountant fees expense	58
Cash at bank	98
Advertising expense	199
Accounts payable	108

	Required:
a	Prepare an income statement for uChampion Painters (uCP) for the year ended 31 May 2022.						4 marks
b	Prepare a balance sheet as at 31 May 2022.						6 marks