Required prepare ledger account,profit and loss account and balance sheet for the end of the year.

kindly show your workings on how you get the values

QUESTION Inventories A business is established with capital of $2,000 and this amount is paid into a business bank account by the proprietor. During the first year's trading, the following transactions occurred. Purchases of goods for resale, on credit 4,300 Payments for trade accounts payable 3,600 Sales, all on credit 4,000 Payments from trade accounts receivable 3,200 Non-current assets purchased for cash 1,500 900 Other expenses, all paid in cash The bank has provided an overdraft facility of up to $3,000. All 'other expenses' relate to the current year. Closing inventory is valued at $1,800. (Because this is the first year of the business, there are no opening inventories.)