Enter the following transactions in the ledger of A. Baker and prepare a trial balance at 31 May, together with a calculation of the profit for the month and a statement of financial position at 31 May.

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123602HARM May 1 14 31 Started in business with 1,500 in the bank and 500 cash. Purchased goods to the value of 1,750 from C. Dunn, agreeing credit terms of 60 days. Bought fixtures and fittings for the bakery for 150, paying by cheque. Bought goods on credit from E. Farnham for 115. Paid rent of 300 paying cash. Bought stationery - cash book and invoices - for 75 - paying by cash. Sold goods on credit, value 125, to G. Harlem. Bought an old van for deliveries for 2,000 on credit from I. Jumpstart. Paid wages of 450 net for the month by cheque. Summarised cash sales for the month and found them to be 2,500. Took a cheque for 500 as own wages for the month. Banked 2,000 out of the cash sales over the month. Closing inventory was 500.