Apple Inc.
Initial Financial Position (30 November 2023):

• Creditors: $3,500,000
• Equipment: $14,000,000
• Motor vehicle: $8,500,000
• Stock of goods: $10,500,000
• Debtors: $7,000,000
• Cash at bank: $18,500,000
• Cash in hand: $80,000

The capital at that date is to be deduced by you.
During the first week of December 2023:
(a) Apple bought extra equipment on credit for $2,700,000.
(b) Apple bought extra stock by cheque $850,000.
(c) Apple paid creditors by cheque $1,400,000.
(d) Debtors paid Apple $1,100,000 by cheque and $90,000 by cash.
(e) Apple put in an extra $500,000 cash as capital.
You are to draw up a balance sheet as on 7 December 2023 after the above transactions have been completed.