Bikes R Us is a recently formed company who commenced business on 1st December 2018. On 1 December their ledger balances were as follows: Account Name Cash at Bank Owners Capital Contributed 100,000 Balance $ 100,000 Bikes R Us buy and sell three bike models as described below. All prices include GST. Bikes R Us use a perpetual inventory system. Bike Buy price Sell Price Supplier Hybrid Bike100 Road Bike BMX Bike 150 75 150Bikes Unlimited, Melbourne 180 Bikes Unlimited, Melbourne 125 BMX World, Bundoora Details of inventory items During the month of December the following transactions occurred: Date Details 1st December Purchased 30 hybrid and 20 road bikes from Bikes Unlimited. They deliver the bikes on 2nd December along with an invoice numbered Inv0034 and give you 7 days to pay their account. 1st December Purchased 15 BMX bikes from BMX World. They deliver the bikes on 2nd December along with an invoice numbered Inv0158 and give you 14 days to pay their account 6th December Sold 5 hybrid bikes, 8 road bikes, and 2 BMX to Smiths Bicycles, Fitzroy. You 7th December Sold 10 hybrid bikes to Lotsa Bikes. You deliver the bikes and the invoice and give 9th December Paid $6,000 to Bikes Unlimited 16th December deliver the bikes and the invoice. They pay you cash on delivery them 7 days to pay. 1 14th December Received $1,000 from Lotsa Bikes Paid $1,125 to BMX World 18h December Paid $3,000 for a month's rent of your shop. GST is not payable on this rental contract. Purchased 10 hybrid and 5 road bikes from Bikes Unlimited. They deliver the bikes on 28th December along with an invoice numbered Inv0068 and give you 7 days to pay their account. 28th December 31st December Sold 15 hybrid bikes to Lotsa Bikes. You deliver the bikes and the invoice and give them 7 days to pay. Required: a) Enter the beginning balances in the ledger T accounts as of 1st December b) Journalise the December transactions, including narrations (round up to whole dollars) c) Post these journal entries to the ledgerT accounts prepared in part a) d) Prepare a Trial Balance as at 31 December 2018 e) Prepare a Statement of Profit or Loss for December 2018 f) Prepare a Statement of Financial Position as at 31 December 2018