The following represents the adjusted trial balance of Elizabeth Mack Designs as at 30 June 2022. Elizabeth Mack Designs Adjusted Trial Balance 30 June 2022 Account Debit Credit $ $ Accounts Payable 14,000 Accounts Receivable 15,200 Accumulated Depreciation Office Furniture 11,600 Advertising Expenses 6,400 Bank Loan 11,000 Capital, Elizabeth Mack 50,000 Cash at Bank 19,200 Depreciation Expense 9,600 Drawings, Elizabeth Mack 13,800 Insurance Expense 8,800 Office Furniture 75,700 Prepaid Insurance 18,300 Interest Revenue 16,000 Rent Expense 23,500 Salaries Payable 15,900 Service Revenue 72,000 Total 190,500 190,500 Required: (a) Prepare the closing entries for Elizabeth Mack Designs for 30 June 2022. Note the above trial balance is presented in alphabetical order of account name. Narrations ARE NOT required. (12 marks) (b) Prepare the T-account for Elizabeth Mack's Capital account to calculate the balance to be included in the Statement of Financial Position as at 30 June 2022