Determination of statement of income and statement of financial position amounts Trepanier Ltd. had the following transactions in its first month of operations: 

1. Issued 20,000 common shares in exchange for $100,000 cash. 

2. Took out a $22,000 loan from the bank. 

3. Paid $25,000 to purchase inventory. 

4. Equipment costing $36,000 was purchased for $6,000 cash, with the balance on account. 

5. Made sales of $48,000 to customers, with $10,000 being cash sales and the balance on account. 

6. The cost of the inventory sold to customers was $22,000. 

7. Paid employee wages totalling $7,000. 

8. Operating expenses of $2,200 were paid during the month. 

9. Deprecation of $600 was recorded for the month. 

10. Dividends of $1,000 were declared and paid during the month.

Required 

a. Calculate the following amounts for the month: 

i. Sales revenue 

ii. Cost of goods sold 

iii. Total expenses other than cost of goods sold 

iv. Net income or loss 

b. Calculate the following amounts as at the end of the month: 

i. Cash on hand
ii. Total assets other than cash 

iii. Total liabilities 

iv. Share capital 

v. Retained earnings