Stalla started trading on 1 April 2021. All receipts are paid into the bank and all payments are made from the bank. She has not kept a full set of books but has provided the following information. Summary of receipts and payments for the year ended 31 March 2022 $ Receipts Capital introduced 8000 Loan received (repayable 2027) 5000 Sales (all cash) 36 000 Payments Trade payables 17850 Fixtures and fittings 12000 General expenses 1920 Rent and insurance 7100 Drawings ? Bank balance at 31 March 2022 2330 During the year ended 31 March 2022, Stalla took goods from the business for her own personal use. The selling price of these goods is $3375. Her mark-up is 25%. Stalla has provided a list of balances at 31 March 2022. $ Fixtures and fittings (net book value) 10800 Inventory 2150 Prepaid rent 500 Balance at bank 2330 Trade payables 1875 Loan (repayable 2027) 5000 Capital ?

1. (a)Record the total receipts and total payments to Stalla's bank account showing the cash drawings for the year ended 31 March 2022. Balance the bank account and bring the balance down on 1 April 2022.[4]
2. (b)Calculate Stalla's total drawings for the year ended 31 March 2022.[2]
3. (c)Prepare a statement of affairs to calculate Stalla's capital at 31 March 2022.[5]
4. (d)Calculate Stalla's profit for the year ended 31 March 2022.[4]
5. (e)Advise Stalla whether or not she should start selling on credit terms. Justify your answer.[5]