Please prepare a balance sheet.

QUESTION: 2 The following Trial balance was extracted from the book of Jim Jones a Sole Trader at December 31", 2020 DEBIT 19) CREDIT (5) 138,078 82,350 5,144 7,800 6,622 3,001 26,420 877 DETAILS Sales Purchases Carriage Drawings Rates, Rent Insurance Postage and Stationery Salary and wages Bad debts Provision for bad debts Debtors Creditors Cash in Hand Cash at Bank Stock (10 Jan) Equipment at Cost Accumulated Depreciation Capital TOTAL 130 12.120 6,471 1,507 1,002 11,927 58,000 19,000 53,091 216,770 216,770 The following matters are to be taken into account: A Rent is accrued by $210 B. Rates have been prepaid by $880 C$ 2.211 of the carriage represents carriage inwards on purchases D. Equipment is to be depreciated at 15% per annum using the straight line method E. The provision for bad debts is to be increased to $170 F. Stock as at 31" December has been valued at $13,551 G. During the year Jim withdrew goods valued $200 for his own use. No entry was recorded for withdrawal in the books H. NET PROFIT for the period $7418 REQUIRED: Prepare Mr. Jim Jones's Balance Sheet as at December 31, 2020. (Trading and Profit & Loss account is not required) You must use Vertical Presentation Format for preparing the Balance Sheet