1) Helen, a jeweler, extracted the following trial balance for her business as at 31 May, 2007. DRS CRS Sales of jewellery 324,650 Sales returns 1,250 Opening stock at June 2006 34,500 Purchases 168,220 Discount received 690 Discount allowed 1,520 Insurance 5.900 Assistants wages 33.100 Phone and e-mail 5.200 Light and heat 6.230 Security guard wages 12,400 Repairs to building 3,970 Amortization of lease to 1 June 2006 18,000 Depreciation of safe to 1 June 2006 4.800 Depreciation of shop fittings to 1 June 2006 10,200 Rent and rates 17,000 Other expenses 3,940 Leasehold building at cost 60,000 Safe, at cost 12.000 Shop fittings, at cost 34,000 Debtors 3,400 Creditors 19,670 Bank overdraft 2,380 Cash 520 Website maintenance 1.430 Advertising 9,740 Opening capital, 1 June 2006 58,630 Drawings 24,700 Notes 1) Closing stock at 31 May 2007, 527,880 2) Security guards were owed $400 wages at 31 May 2007 and $20 Tre and e-mail at this Sec 4:41 4 1 4,800 Light and heat 6,230 guard wages Repairs to building 3.970 Anpartization of lease to accounts second ho... Depreciation of safe to June 2006 Depreciation of shop fittings to 1 June 2006 10,200 Rent and rates 17,000 Other expenses 3,940 Leasehold building at cost 60,000 Safe, at cost 12.000 Shop fittings, at cost 34,000 Debtors 3,400 Creditors 19,670 Bank overdraft 2.380 Cash 520 Website maintenance 1,430 Advertising 9,740 Opening capital, 1 June 2006 58,630 Drawings 24,700 Notes 1) Closing stock at 31 May 2007, $27,880 2) Security guards were owed $400 wages at 31 May 2007 and $200 was owing for phone and e-mail at this date. })$900 of the charge for maintaining the company web site was paid on 1 January, 2007 to cover a year from that date. +) Depreciation is to be calculated as follows: Leasehold building is amortized in equal installments over a 20-year period The safe is depreciated at 40% every year by the reducing balance method The shop fittings are depreciated at 10% every year by the straight line method, assuming no residual values. Prepare Helens profit and loss account for the year ended 31 May 2007 and a balance sheet at that date. Complete the capital account