On 1 March, Joe Conday started a new business. During March, he carried out the following transactions: 1 March Deposited $20,000 in a newly opened bank account.

2 March Bought fixtures and fittings for $6,000 cash and inventories $8,000 on credit.

3 March Borrowed $5,000 from a relative and deposited it in the bank.

4 March Bought a motor car for $7,000 cash and withdrew $200 in cash for his own use.

5 March A further motor car costing $9,000 was bought. The motor car bought on 4 March was given in part exchange at a value of $6,500. The balance of purchase price for the new car was paid in cash.

6 March Conday won $2,000 in a lottery and paid the amount into the business bank account. He also repaid $1,000 of the borrowings.

Based on the given information, prepare a statement of financial position for the business at the end of each day.

Submission Requirements: Answer the problem in detail with conclusions and results.

Submit your answer in a Microsoft Excel file, showing step-by-step calculations.