I need solution please

A- Tracy Underhill operates as a sole trader. Below is a trial balance extracted from her books as at 31 December 2017. Trial balance for Tracy Underhill as at 31 December 2017 Debit Credit E E Sales revenue 695,000 Invent ory (as at 1 January 2017) 05,800 Purchases 625,200 Non-current assets at cost: Equipment 100,000 Motor vehicle 80,000 Accumulated depreciation: Equipment 10,000 Motor vehicle 10,000 Insurance 14,700 Rent 30,000 Heating and lighting 10,000 Salaries and wages 40,000 Motor expenses 15,300 Miscellaneous expenses 28,500 Receivables 110,000 Allowance for receivables 14,000 Payables 101,500 Cash 71,000 Bank loan 100,000 Capital 300,000 Total 1,230,500 1,230,500 Additional information is provided for use in preparing the company's adjustments: 1 The value of closing inventory is $102,500. 2 Interest is payable on the bank loan at eight per cent per annum. The annual amount due as at 31 December 2017 had not yet been paid. 3 Tracy has paid her rent until 31 March 2018. Her annual rent is $24,000. 4 Office equipment has a useful life of ten years and a residual value of E0. It is to be depreciated on a straight-line basis. 5 The motor vehicle with a useful life of ten years and an estimated residual value of E30,000 is to be depreciated on a straight-line basis at a rate of 10%. 6 Tracy finds that receivables of 10,000 need to be written off as irrecoverable. 7 The allowance for receivables is to be set at ten per cent of the remaining outstanding receivables as at 31 December 2017. B 124/THE-Final (V1) Page 2 of 6 Summer 2019/2020 8 The heating bill will arrive on 5 January and about $1,000 is expected to relate to the period until 31 December. Required: 1) Make the end-of-period adjustments entries (1 1 Marks) 2) Prepare Tracy's income statement for the year ended December 31, 2017. (9 Marks) 3) Prepare Tracy's balance sheet as at December 31, 2017. (10 Marks)