Mr$.$ John set up a business selling keep fit equipment. He invested $7,000$ of his money $($Capital$)$ into a business on $1-1-2019$ and in the year ending $31$st of December $2019,$ his business $($Keep Fit Equipment$)$ made the following transactions:

Date Transaction Amount $()$

$3-1-2019$ Paid annual rent of the shop $3,500$

$18-1-2019$ Purchased keep fit equipment on credit $5,000$

$22-2-2019$ Borrowed bank loan $1,000$

$27-2-2019$ Purchased plant and Machinery $2,000$

$19-3-2019$ Sold keep fit equipment $($Cash$)10,000$

$28-3-2019$ Sold keep fit equipment on credit $2,500$

$18-5-2019$ Payments to suppliers $5,000$

$7-6-2019$ Payments received from credit customers $2,500$

$14-8-2019$ Interest on bank loan paid $1,600$

$14-10-2019$ Other expenses all paid in cash $1,900$

Required:

$1-$ Pass the Journal Entries

$2-$ Prepare Ledger Accounts

$3-$ Make a Trial Balance from Ledger Accounts.

$4-$ Prepare Income Statement for the year ending $31$st December, $2019.$

$5-$ Prepare Statement of Financial Position as at $31$st December, $2019.$