Balance sheet The following transactions took place for Smart Ltd during the current accounting period: 1. Paid wages for the current period of $8950. 2. Purchased $2300 worth of office supplies on credit. The business treats the office supplies as expenses purchased. 3. Paid $5200 in rent for the next period, 4. Paid the electricity bill of $14000 for the current the period. 5. Sold inventory goods for $59000 on credit. The original cost of those goods was $35400 6. Inventory worth $27500 is bought on account. 7. Received $21000 cash from customers that paid in advance for goods to be sold to them next period. Assume that the following opening balances existed in the balance sheet for Smart Ltd at the begir of the current period: Account name Opening balance Cash $49500 Inventory $50900 Accounts receivable $65000 Accounts payable $48500 Share capital $57000 Retained earnings There are no dividends declared for the current period and no reserve accounts under equity. Required: Prepare the balance sheet for Smart Ltd as at the end of the current period (i.e. 30 June 2020). Important: - List assets in order of liquidity, i.e. in order of them being able to be converted into cash. - List any prepayments or unearned revenue last in their respective categories. Do not include "$" sign or any thousands separators, i.e. $46,000 should be written as 46000. Do not indude's signorany thousands stors 546.000 should be written 40000 Smart Balance sheet 102020 30 June 2013 30 June 20 Non- Toon curve WATTLE