John, a sole trader, provided the following balances at 31 December 2022. Sales $130 000 Purchases $60 000 Returns inwards $4 000 Returns outwards $2 000 Inventory at 1 January 2022 $15 000 Inventory at 31 December 2022 $18 000 Carriage inwards $5 000 Carriage outwards $3 000 Rent $6 000 Wages and salaries $12 000 Office expenses $2 000 Provision for doubtful debts $300 Insurance $1 000 Bank loan (repayable in 2025) $20 000 Discount allowed $500 Discount received $200 Accumulated depreciation (equipment) $10 000 Equipment at cost $50 000 Cash in hand $1 000 Bank $12 000 Trade receivables $10 000 Trade payables $8 000 Capital at 1 January 2022 $60 000 Drawings $8 000