Extracted text: Merchandising Worksheet The trial balance of Lucky Trading shows the adjusted balances at the end of its fiscal year, March 31, 2021: Debit Credit Cash 317,810 Accounts Receivable 142,050 Merchandise Inventory Store Supplies Prepaid Rent Store Equipment Accumulated Depreciation Store Equipment Accounts Payable 102,660 22,400 125,000 186,100 50,120 54,900 erm Loans 142,990 Accrued Salaries 33,500 51,300 26,000 Unearned Income Income Tax Payable Co, Capital Co, Drawing 500,000 40,000 Sales 415,740 Sales Discounts 7,600 Sales Returns & Allowances 3,000 Purchases 211,650 Purchase Discounts 10,000 Purchase Returns & Allowances 5,200 Freight-in Salaries Expense Store Supplies Expense Rent Expense Freight-out Depreciation Expense - Store Equipment Interest Expense 12,000 67,400 3,940 25,000 3,200 17,440 2,500 1,289,750 1,289,750 REQUIRED: 1. Assuming that during physical inventory count, it was found out that the remaining merchandise inventories amounted to Php 97,000, the periodic inventory system. 2. Journalize the closing entries. 3. Prepare a statement of changes in equity. 4. What will be the difference if the worksheet is prepared using the perpetual inventory system? prepare the worksheet using