Kelvin started his business on 1 January 2018. The following trial balance as at 31 December 2018 has been extracted from his books. Trial Balance of Kelvin Corporation at 31 December 2018 Dr $ Cr Sale $ 200,000 Purchase 86,500 Wages 61,050 Rent 12,000 Electricity 5,416 Insurance 3,290 Motor van expense 11,400 Operating expense 5,760 Land and buildings 84,000 Equipment 22,000 Motor van 19,000 Debtors 12,425 Creditors 3,906 Bank 8,065 Capital 1 January 2018 127,000 330,906 330,906 Closing inventory at 31 December 2018 was valued at $10,000.