Question 2 - Balance Sheet Instruction: Use the information in this paragraph to prepare a Horizontal Balance Sheet.Mr. N. Lawrence is very excited about running his own business. Before he actually starts trading he buys premises at a cost of $15,000 and goods for $10,000. Though he paid for the premises in full, he did not pay for all of the goods and owes his creditor $2,700. Mr. Lawrence was running short on money so he borrowed a loan from Miss Palmer in the amount of $5,000 which was deposited to the business bank account. Before the end of the month, he has $850 cash in hand and $3,000 in the bank. He managed to pay back a part of the loan by cheque in the amount of $2,000.a) Calculate his capital at the end of the month (December 31, 2020.)Please note: No calculation is to be done in the balance sheet.