The following trial balance was extracted from the books of F. Sorley on 30 April 2017. From it, and the note about inventory, prepare his statement of profit or loss for the year ending 30 April 2017, and a statement of financial position as at that date.

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Dr Cr Sales 210,420 Purchases 108,680 Inventory: 1 May 2016 9,410 Carriage outwards 1,115 Carriage inwards 840 Returns inwards Returns outwards Salaries and wages Motor expenses Rent Sundry expenses Motor vehicles Fixtures and fittings Accounts receivable Accounts payable 4,900 3,720 41,800 912 6,800 318 14,400 912 23,200 14,100 Cash at bank 4,100 Cash in hand 240 Drawings 29,440 Capital 18,827 247,067 247,067 Inventory at 30 April 2017 was 11,290.