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The following are summaries of the cash book and bank accounts of Mr. Smith who does not keep his books using the double entry system. $ 6,000 Bank Summary Balance on 1 January 2018 Receipts Debtors Cash Banked $35,000 $ 2,200 S37,200 S43,200 Payment Trade creditors Rent Machinery Wages Insurance Debtors (dishonoured cheque) Loan Interest Balance on 31 December 2018 $31,000 $ 1,10) $ 3,400) $ 9,200 $ 850 $ 80 $ 500 46,130 (S2.930) Cash Summary Balance on 1 January 2018 Receipts Cash Sales Debtors $ 9,70) $ 1,108) S10,800 $10,860 Payments Drawings Repairs Electricity Cash Banked Balance on 31 December 2018 S 6,600 5 1,400 S 570 S 2.200 $10,770 $ 90 The following referred to 2018 Bad debts written off S240 Discount received $600 Goods withdrawn by Mr. Smith for own use $1,200 Credit nole issue $640) 31 December 2018 $ 5,400) $10.400) $ 100 The following additional information is available: 1 January 2018 Stocks $2,300 Machinery $9,800 Rent prepaid Rent owing $ 150 Debtors $8,100 Creditors $5,700 Loan from Bank at 10% $7,000 Loan interest owing S 9,200) S 4,800 S 7,000 S 200 You are required to: a. Calculate the value of Mr. Smith's capital on 1 January 2018. b. Prepare the Trading and Profit and Loss Accounts for the year ended 31 December 2018