School of Business (SBC) Question 2 The following information relates to Mr. Johnson's business: 1 January 2019 Assets and liabilities at Machinery Accounts receivable Inventory Accounts payable Cash Balance at bank Loan from Benson Motor vehicle 18000 4800 24000 8000 760 15600 6000 31 December 2019 Note: Assume one year there are 52 weeks. 16200 5800 28000 11000 240 4600 2000 16000 Additional Information During the year, Trader had sold private investments for RM4000 which he paid into the business bank account, and he had drawn out RM200 weekly for private use. Required: Prepare a Balance Sheet as at 31 December 2019 and give the net profit as at the date. (Total=10 marks)