Prepare a statement of financial position (balance sheet) from the following list of assets and liabilities, regarding the ownership interest as the missing item.

Explain how the statement of financial position (balance sheet) will change for each of the following transactions:
(a) The wages due to the employees are paid at \(£ 2,000\).
(b) One-quarter of the inventory (stock) of goods held for resale is destroyed by fire and there is no insurance to cover the loss.
(c) Goods for resale are bought on credit at a cost of \(£ 5,000\).

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Trade payables (creditors) Cash at bank Inventories (stocks) of goods for resale Land and buildings Wages due to employees but not paid Vehicles Five-year loan from a bank 43,000 9,000 35,000 95,000 2,000 8,000 20,000