please answer the questions using the presented format

Anya's Bookstore Part B - Year 2 of Operations During the 2nd year (2016) of operation the bookstore has the following transactions: 1. January 15th : Purchased books on credit for $50,000 2. March 13th : Sold books (originally costing $35,000) for $55,000, of which 30,000 on credit and the rest for cash 3. May 30th : Paid $40,000 to creditors 4. June 9th : Collected $10,000 from debtors 5. December 31st: Anya purchased a used delivery van for $15,000 in cash to help make deliveries to customers. Anya expects the car will last 10 years, and have zero residual value at the end of its life. 6. December 31st : Paid electricity bill $2,000 7. December 31st : Rental expenses of $3,000 paid in cash 8. December 31st : Bought storage furniture for $8,000 in cash. 9. December 31st : Paid interest on the bank loan of $3,000 10. December 31st : Tax (at a rate of 30%) is payable on the pre-tax profit but will be paid next year. 11. December 31st : Declared dividend of $1,000, but not paid yet. Record these transactions in the Year 2 worksheet provided. Prepare the income statement and balance sheet.

Assets

Liabilities

S/H Funds

Transaction Details

Trans. Nos.

Trans. Date

Cash

Inventory (Stocks)

Accounts Receivable (Trade Debtors)

Proper. Plan & Equip.

Div. Payable

Tax Payable

Accounts Payable (Trade Creditors)

Bank Loan

Share Capital

P&L A/c

Retained Earnings

Opening balance

$ 20,000.00

Purchases

1

Jan-15

Sales

2

Mar-13

Cost of sales

2

Mar-13

Pay creditors

3

May-30

Collect from debtors

4

Jun-09

Purchase a van

5

Dec-31

Electricity

6

Dec-31

Paid rent

7

Dec-31

Bought Furniture

8

Dec-31

Interest

9

Dec-31

Tax payable

10

Dec-31

Dividend payable

11

Dec-31

Trf. to retained earnings

Dec-31

Closing Balances