On March 1, Chris Cowton started a new business. During March, he Carried out the following transactions: 1 March 2 March 3 March 4 March 5 March 6 March Deposited 22,000 in a newly opened business bank account. Bought fixtures and fittings for 4,000 cash and inventories 9,000 on Credit Borrowed 6,000 from a relative and deposited it in the bank Bought a motor car for 8,000 cash and withdrew 300 in cash for his own use A further motor car costing 10,000 was bought. The motor car bought on 4 March was given in part exchange at a value of $7,500. The balance of purchase price for the new car was paid in cash. Cowton won 3,000 in a lottery and paid the amount into the business bank account. He also repaid 1,500 of the borrowings. Required: Draw up a statement of financial position for the business at the end of each day