Question Abigail commenced business as a baker on 1st January 20X9. The following is a summary of the transactions which took place during the first three months of trading. a) Green paid $5000 into the business on 1st January and immediately paid a full years rent of $1000 b) A delivery van was purchased on 1 January at a cost of $40000; it was agreed that it should be depreciated in equal instalment over four years, assuming zero residual value c) Cash sales amounted to $4000 d) Credit sales totalled $2000 and of this $450 was still outstanding by 31st March e) During the period suppliers had been paid $1800 and invoices totalling $800 remained unpaid at 31st March f) Sundry expenses paid amounted to $600 g) At the end of the period Green owed $400 for electricity used h) The stock of ingredients, bread, cakes, etc. at 31st March was valued at $100 Required: i. Write up the ledger accounts for Hamlet Green (8 marks) ii. Extract a trial Balance (6 marks) iii. Prepare an income statement for the three months (6 marks)