Test your knowledge on Income Statement items Adapted from: Birt, J. et al. 2014. Accounting Business Reporting for Decision Making. 5th edition, Wiley

A list of account balances of Mr Zheng's business (Futronics) at the end of the 30 June 2015 reporting prior is shown below. Prepare the income statement for the reporting period, and the equity balance at the end of the year.

Note: You should be able to fill the blank boxes. However,you have some hints where you can select the options from the drop down menus. (where you have to write the numbers you should use the following format: XX 000 (with space in between); formats like XX,000 and XX000 won't be accepted by the system. Extra spaces and commas result in wrong answers. Do NOT use $ in your answers.)