Shiv is a trader. His financial year ends on 31 August. He does not maintain a full set of accounting records but was able to provide the following information for the year ended 31 August 2021. Total revenue $320000 Mark-up 25% Bank account summary for the year ended 31 August 2021 $ $ Balance b/d 49000 Expenses 34000 Cash sales 3700 Drawings 4200 Receipts from trade receivables 312400 Payments to trade payables 257 700 Equipment 16000 Balance c/d 53200 365 100 365 100 Assets and liabilities 1 September 2020 31 August 2021 $ $ Inventory at cost 23500 ? Trade receivables 22000 25900 Expenses owing 400 Trade payables 32600 29600 Equipment at net book value 12800 Premises at cost 90 000 90 000 Shiv had withdrawn $900 for a family holiday during the year. He had included this in the expenses. On 31 August 2021 Shiv decided to create a provision for doubtful debts of 3% of trade receivables. REQUIRED