Bugs Bunny, a wholesale dealer in ready-made menswear, achieves a gross profit ratio of 50 per cent. The statement of financial position of the business as at 30 June 20X2 was as follows:

Since this date the accounting function has been neglected. However, on the basis of records in his personal diary, Bugs Bunny confirms the following:
1. As at 30 June 20X3, £138,000 is due from credit customers and £108,000 is owed to credit suppliers.
2. During the year ended 30 June 20X3, the payments set out below have been made:
....................................................... £
Paid for purchases ............................. 252,000
Staff salaries ..................................... 80,130
Rent for shop premises ......................... 10,000
Entertainment ..................................... 2,250
Office equipment ............................... 15,200
Motor vehicles .............................. 17,500
Other expenses .............................. 33,020
Personal expenses ........................... 13,250
3. A vehicle acquired for £15,000 on 1 April 20W9 was sold for £3,830 in the year to 30 June 20X2. Motor vehicles and equipment are depreciated at 20 per cent and 10 per cent per annum on cost, respectively. The depreciation policy is to charge a full year's depreciation in the year of acquisition and none in the year of disposal.
4. A provision for doubtful debts is maintained at 5 per cent of trade receivables outstanding at the year end. Debts amounting to £22,000 were written off in the year.
5. Accruals as at 30 June 20X3 consisted of salaries £10,200, rent £3,000 and other expenses amounting to £13,000.
6. Cash in hand and at bank on 30 June 20X3 is £400.
7. Inventories in trade on 30 June 20X3 (valued at cost) is £99,405.
8. With Bugs Bunny's permission, his teenage sons have been regularly helping themselves to ready-made garments from the shop.
9. All sales and purchases are on credit.
Required
Prepare the statement of profit and loss for Bugs Bunny for the year ended 30 June 20X3 and the statement of financial position as at that date?

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Bugs Bunny Statement of financial position as at 30 June 20X2 Cost Prov depn WDv ASSETS Non-current assets Motor vehicles Fixtures and fittings 60,000 24,000 36,000 43,000 2,900 30,100 03,000 36,900 66,100 Current assets Inventories Trade receivables less provision Cash and bank 79,300 76,475 17,125 172,900 239,000 Total assets EQUITY AND LIABILITIES Equity capital Opening balance Profit for the year 114,750 38,900 153,650 29,150 124,500 Drawings Closing balance Current liabilities Trade payables Accruals - (salary) Accruals (other expenses) Total current liabilities Total equity and liabilities 94,472 9,200 10,828 114,500 239,000