Riaz Sugar Factory of Multan consigned to Mr. Shahid of Lahore 400 bags of sugar at $25 per bag. They also paid cartage, freight, etc. $250. The consignor drew on consignee as an advance against the consignment at 3 months for $6,000 which they discounted at their bank at 5 percent. The consignee sold off the goods and rendered an account sale showing that the goods realized $12,000, out of which he deducted his charges amounting to $80 and his commission at 5 percent. Question No. 4 Make journal entries in respect of the above transactions in the books of consignor. Question No. 5 Make journal entries in respect of the above transactions in the books of consignee. Question No. 6 What do you know about statement of retain earnings explain with example.