Question 7 [12] Titan Traders trades in clothing. The business only started trading on 1 September 2022 and accounting equation: Assets(R)425000==Ownersequity(R)+325000Liability(R)+ Note: Ignore VAT 1 The owner, M Titan increased his capital contribution by making an EFT of R100 000 from his personal bank account to the bank account of the business. He further contributed a vehicle to the value of R300 000 . 7 Repaid R5 000 on the bank loan. 8 Paid the bookkeeper's salary by EFT, R9 000. 10 Purchased trading goods on credit for R25 000. 13 Sold merchandise with a cost price of R2 000 on credit for R4 500. 25 Rendered services to a client for R10000. The client paid R4 000 upfront and repay the balance in six equal monthly instalments, starting on 1 November 2022. 31 The owner took two pairs of shoes with a cost price of R340 per pair from inventory personal use. Required: Calculate M Titan's equity in his business on 31 October 2022, by showing the effect of individual transaction on the accounting equation