Question: QUESTION 2 - Financial Reporting Hali Dae has a business selling clothes. The following adjusted trial balance has been prepared at year's end. Please see

QUESTION 2 - Financial Reporting Hali Dae has a business selling

clothes. The following adjusted trial balance has been prepared at year's end.

QUESTION 2 - Financial Reporting Hali Dae has a business selling clothes. The following adjusted trial balance has been prepared at year's end. Please see next page for requirements for this question. REQUIRED: a. Prepare a fully classified Income Statement for the year ended 30th June 2022. (12 marks) b. The owner of a business has asked you why it is important to create an income statement. Explain to the owner what an income statement is trying to calculate and why it is important to prepare an income statement

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