2. Hanson Store is a sole trader who, although keeping very good records, does not operate a full double-entry system. The following figures have been taken from his records : January 1, 2017 December 31, 2017 Cash at bank... $ 1,460 $ 1,740 Office Furniture.. 600 500 Inventory..... 2,320 2,620 Cash in hand. 60 80 Accounts Receivable. 2,980 ? Accounts Payable. 1,880 2 Other data All purchases and sales of inventory were on credit. Sales revenue of the year amounted to $11,520. - Purchases inventory during the year totaled $8,120. Collected cash from receivables and cash paid to creditors in 2017 amounted to $10,820 and $7,780 respectively. No bad debts were incurred. Also, there was neither discounts allowed nor discounts received Required (with all calculations shown): a) Calculate accounts receivable and accounts payable balances on December 31, 2017. b) Calculate Hanson's net profit for the year 2017, allowing for the fact that during the year Hanson's drawings amounted to $ 2,540. c) Calculate Hanson's capital as at January 1, and December 31, 2017