The Wizard’s Corner, a company that sells video games and related items, had the following account balances at the end of June 2024:

Required 

a. Prepare a statement of income for the year ended June 30, 2024. 

b. Calculate the amount of retained earnings as at June 30, 2024. 

c. Prepare a classified statement of financial position as at June 30, 2024.

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Cost of goods sold Common shares Advertising expense Equipment Depreciation expense Dividends declared Accounts payable Inventory Wages expense Sales revenue Accounts receivable Rent expense Cash Prepaid rent Wages payable Retained earnings (as at July 1, 2023) $103,000 33,000 6,000 11,000 2,000 3,000 11,000 28,000 36,000 190,000 15,000 12,000 40,000 1,000 2,000 21,000