Question 2 [75 points] Ronald's brother Donald owns a supermarket in Las Vegas. His balance sheet from January 1 2019 is given here: BALANCE SHEET 1-1-2019 DEBIT CREDIT Current assets Current liabilities Inventory 4500 Trade payables 2000 Cash 300 Bank account 2700 Trade receivables 500 Non-current assets Equipment Equity Capital account 5000 11000 i) Total: 13000 Total: 13000 (5 points] Enter the opening balances at 1 September 2018 into T-accounts. His transactions during 2019 were as follows: 1. Donald paid off $1,000 trade payables using $x00 cash and the rest out of the bank account. 2. He made total sales of $21,000 in cash. 3. His purchases were $14 200 to his suppliers. $2,200 was paid in cash, the rest will be paid on credit. 4. Customers returned $3,000 worth of products, paid back in cash. 5. Donald went on vacation with his brother in July. He paid for this vacation with his company bank account. The vacation costs were $4,300. 6. Donald transferred $14,500 cash to his bank account in May. 7. The value of the inventory at 31-12-2019 turned out to be $3,500. 8. There was no depreciation on equipment this year, because Donald sold all the equipment to a competitor for $5,700 cash. ii) [40 points) Enter the 2019 transactions into the T-accounts. 110 points) Extract a trial balance from the T-accounts you have prepared. iv) 115 points) Draw up the income statement over 2019 and the balance sheet of 31-12-2019 v) (5 points) Close off the T-accounts at 31-12-2019