1- The following is the statement of financial position of Tech and Co. at the end of its first year of trading: Statement of financial position as at 31 December 2017 ASSETS JD JD Non-current assets Delivery van at cost 12,000 Accumulated Depreciation (2,500) 9,500 Current assets Inventories 65,000 Trade receivables 19,600 Prepaid expenses* 5,300 Cash 750 90,650 TOTAL ASSETS 100,150 EQUITY & LIABILITIES Equity Original 50,000 Retained earnings 26,900 76,900 Current liabilities Trade payables Accrued expenses** 22,000 1,250 23,250 100,150 TOTAL EQUITY & LIABILITIES * The prepaid expenses consisted of rates (JD300) and rent (JD 5,000) ** The accrued expenses consisted of wages (JD630) and electricity (JD620). 2-During 2018, the following transactions took place: 1. The owners withdrew JD20,000 of equity in cash. 2. Premises continued to be rented at an annual rental of JD20,000. During the year, rent of JD15,000 was paid to the owner of the premises. 3. Rates on the premises were paid during the year as follows: for the period 1 April 2018 to 31 March 2019, JD1,300. 4. A second delivery van was bought on 1 January 2018 for JD13,000. This is expected to be used in the business for four years and then to be sold for JD3,000. s. Wages totaling JD36,700 were paid during the year. At the end of the year, the business year. owed JD860 of wages for the last week of the 6. Electricity bills for the first three quarters of the year and JD620 for the last quarter of the previous year were paid totaling JD1,820. After 31