On 1 March, Joe Conday started a new business. During March, he carried out the following transaction: 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. Answer the problem in detail with conclusions and results. submit your answer in a Microsoft Excel file, showing step-by-step calculations.