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Elliot's Auto Supplies runs and owns a vehicle repair garage.She Supplies the following information for the year ended 31 May 2017: Premises 180000 Break Down

Elliot's Auto Supplies runs and owns a vehicle repair garage.She Supplies the following information for the year ended 31 May 2017:

Premises 180000
Break Down Recovery Truck 24000
Office Furniture 8000
Trade Receivables 3450
Trade Payables 1673
Inventory at 1 June 2014 945
Purchases 48620
Sales 92431
Wages and General Expenses 23789
Local Taxes 872
Insurance 2150
Advertising 450
Stationery 357
Mortgage on Premises 160000
Drawings 15750
Bank Balance Capital at 1 June 2014 849
Capital at 1 June 2014 55128

Elliot has valued his inventory at 31 May 2015 at $1045

Required: Prepare a Statement of Financial Position at 31 May 2015

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