Question 3 Johnny, a sole proprietor, has the following account balances: Cash, RM5,000; Accounts Receivable, RM2,000; Prepaid Rent RM1,500; Supplies, RM850; Equipment, RM6,000; Accounts Payable, RM2,500; Capital, RM5,000; Profit b/d RM7,850. Business transactions during December are presented as follows: i. Company received cash from clients for services, RM4,500 ii. Johnny paid to creditors RM500, iii. Paid office rent for the month of December, RM750, iv. Company billed client for maintenance services on account, RM5,200 v. Supplies were purchased on account, RM650, vi. Company received cash from clients billed previously, RM6,000 vii. Johnny received an invoice for office equipment repair services for December (the invoice will be paid next month), RM850, viii. Johnny paid monthly salaries, RM2,700, ix. Utilities expense were paid, RM280, x. Miscellaneous expense were paid, RM550, xi. Johnny withdraw RM3,000 for his personal use Required: Using the following format, complete the fundamental accounting equation for the business: ASSETS Liabilities Equity + Net Income Cash Accounts receivable Prepaid rental Supplies Equipment Accounts payable Capital Profits b/d Revenue Expenses (20 marks)