Month-end statement of financial position amounts for the practice of David Wei, an immigration lawyer, for 3 consecutive years are shown below. The information is complete except for the balance in the Capital account.

Required

(a) Determine the balance in David Wei’s Capital account at the end of each year.

(b) Assuming that David Wei made no additional investments and did not withdraw any money from the business during the 3 years, determine the profit for each year.

(c) Prepare a statement of financial position for the business at the end of December 2024. (The heading should read: David Wei, Lawyer.)

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2022 2023 Cash at bank $27 300 $11 700 Accounts receivable 20 100 30 000 Prepaid insurance 1 200 1 500 2024 $9 000 16050 1 800 Office equipment 30 800 27 700 35 300 Office Building 226 000 219 000 212 000 Accounts payable 30 300 9 300 9 000 Wages payable 15 300 12 300 13 400 Mortgage payable 90 400 86 300 75 200 David Wei, capital ? ? ?