SECTION A A Mr J Cantu who owns Cantu Enterprise decided that he wants to expand his business and visited the Credit Union to secure a loan. The Loans Officer informed him that to secure the loan he needs to present his Financial Statements for the year ended December 31, 2019. Mr. Cantu has not been keeping proper bookkeeping records and he was not sure if he was even making a profit. He then decided to hire an Accountant to help him prepare his financial statements. You are the accountant and you were able to determine the following details: Transactions for J. Cantu retail store for the year ended 31 December 2019. i The sales are mostly on a credit basis. No record of sales has been made but $500,000 has been received: $475,000 by cheque and $25,000 by cash, from persons to whom goods were sold ii. The amount paid to suppliers was $360,000 by cheque iii. The expenses paid during the year: by cheque, Rent 10,000, General expenses $9,000; by cash: Rent $2,500 iv. Cantu took $500 cash per week for personal use. V. Other information also revealed: 31.12.2018 $ 55,000 79,500 31.12.2019 $ 66,000 85.000 Trade receivables Inventory 20.000 32.500 Trade Payables Rent accrued Cash in Hand 2,500 500 4,000 Cash at Bank 56.500 152.500 vi. Fixtures and fittings were valued at 31 December 2018 at $40,000. These are depreciated at 10 percent per annum A. In order to assist Cantu Enterprise, you are required to: i. Calculate the start-up Capital (7 marks) ii. Prepare the Cash book (10 marks) iii. Prepare the Financial Statements for the financial year ended December 31, 2019. (22 marks) ADDITIONAL MARKS . WORKINGS (13 marks)