Required: 1/ Open the accounts with opening balances (4 point). 2/ Record all transactions. Costs are recorded as costs by nature only (20 points). 3/ Close all accounts, show their ending balances and calculate profit or loss for the end of January according to costs by nature structure in the Profit/(loss) account. (6 points). The balance sheet of the company JUMPEX as at 1.01.2018 is as follows: ASSETS EQUITY & LIABILITIES Long-term investment 10 000* Shareholders' equity Inventory Share capital 44 000*** office materials 20 000 Supplementary capital 16 000*** traded goods 30 000 Net profit Accounts receivable 50 000 Long-term bank loan 20 000 Short-term investment 5 000** Accounts payable 40 000 Cash and cash equivalent 25 000 Salaries payable 20 000 Total assets 140 000 Total equity & liabilities 140 000 * Long-term investment includes shares of Company Alfa 125 shares at $80. ** Short-term investment includes shares of Company Foxtrot 50 shares at $100. *** In 2010, 20 000 shares were issued at a nominal price of 2,20 and issue price of 3. All share capital was paid for. In January, 2018 the company noted the following economic transactions: 1. Company sold 50 shares of Foxtrot company for $90 per share. 2. Company paid off a bank loan - 3 000 and additional 2 000 as an interest payment. 3. Traded goods worth 10 000 were delivered to the client and sold for 16 000. 4. Company received a prepayment from the client for future delivery of goods 21 000. 5. Company paid 6 000 for property insurance for the year 2018. At the end of January part of insurance cost was recorded. 6. Company calculated and recorded bad debt expense - 3 500. 7. Company received water bill 1 500. Water was used by the administrative building and the bill will be paid next month. 8. Company issued 5 000 new shares at a nominal value of 2,20 and issue price of 4. All care capital was paid. The capital will be used to buy a new car. 9. Company bought a used lorry to 18 000 with cash. 10. Company valued shares of Alfa company at fair value for $105 per share