Cyrus started City Bikes Pte Ltd on 1 July 2022. The company sells a wide range of bicycles and conducts cycling sessions. The retail shop is located at Bedok and the office is at Paya Lebar.
Cyrus prepared the following Profit or Loss Statement and Balance Sheet for the company after 12 months of operations but believed that there are errors in the statements. He needs your assistance to check and prepare the classified Profit or Loss Statement and Balance Sheet.