Dorah, the sole shareholder of Mad Dog Food Truck, runs a food truck in the suburb of a large city. Her balance sheet as at July 31,2020 is as follows: In the upcoming year, Dorah expects the following events to occur: - Total revenues of $29,000 and total expenses of $9,570 - Inventory is expected to increase by $1,300 - By the end of July, 2021, Mad Dog Food Truck will owe its suppliers $3,200 - No principal payments will be made on the loan payable during 2021 - Purchase of new equipment for $1,600. The entire purchase will be financed through a loan payable - Expect to have a cash balance of $24,400 at the end of fiscal 2021 - Depreciate assets by $770 during 2021 as at July 31, 2021