Lionel started trading on 1 July 2022. He paid $15 000 of his own personal money into the business bank account. He did not keep full accounting records but has supplied the following information at 30 June 2023. 1. Cash sales of $90000 were made and paid into the bank. No other money was received. Lionel marks up his goods by 50%. 2. Payments from the bank: Purchase of motor vehicle (van) $8000 Payments to credit suppliers $55000 Wages $8060 General expenses $1140 Rent and insurance $5585 Motor expenses $4992 Cash drawn from bank $14600 3. Purchases returns amounted to $3000. 4. Inventory at 30 June 2023 was valued at $4175. 5. One third of the motor expenses paid were for Lionel's private car. 6. A full year's depreciation at 25% is to be charged on the van using the reducing balance method. 7. Lionel withdrew $1000 each month from the business cash, for personal use. The remaining cash drawn from the bank was used to pay wages. REQUIRED