Directions: Below is the Post-Closing Trial Balance of EC Company for the year ended December 31, 2019. Prepare a Statement of Financial Position in Account Form.

\begin{tabular}{|l|r|r|}
\hline
\multicolumn{3}{|c|}{EC COMPANY} \\
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\multicolumn{2}{|c|}{Post-Closing Trial Balance} \\
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\multicolumn{2}{|c|}{December 31, 2019} \\
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\multicolumn{1}{|c|}{Account Name} & Debit & Credit \\
\hline
Cash & 193,300 & \\
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Accounts receivable & 125,000 & \\
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Prepaid rent & 30,000 & \\
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Prepaid insurance & 12,000 & \\
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Office supplies & 2,300 & \\
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Store supplies & 135,000 & \\
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Equipment & 160,000 & \\
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Accounts Payable & & 20,000 \\
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Notes Payable & & 90,000 \\
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EC Capital & & 547,600 \\
\hline
& 657,600 & 657,600 \\
\hline
\end{tabular}

Directions: You were hired by Mr. X to prepare his laundry shop's Statement of Financial Position. To prepare the statement, you identified the following assets and liabilities of Mr. X:

a. His laundry shop has cash deposited in a bank account amounting to P547,500.
b. The laundry shop had a lot of uncollected sales from customers amounting to P22,500.
c. The total amount of supplies left inside the shop is P2,000.
d. He already paid one year's rent in advance amounting to P50,000.
e. The value of all the shop's furniture amounted to P120,000.
f. The value of the shop's equipment is P240,000.
g. The value of the service vehicle is P50,000.
h. He had an account payable amounting to P10,000 and another account with promissory note amounting to P25,000.

Prepare a Statement of Financial Position for Mr. X's laundry shop.