The following trial balance has been extracted from the ledger of Andrea Howell, a sole trader, as at 31 May 20X9, the end of her most recent financial year.

The following additional information as at 31 May 20X9 is available:
1. Inventories as at the close of business were valued at £25,900.
2. Depreciation for the year ended 31 May 20X9 has yet to be provided as follows:
Property: 1 per cent using the straight-line method.
Equipment: 15 per cent using the straight-line method.
3. Wages and salaries are accrued by £140.
4. ‘Other operating expenses’ include certain expenses prepaid by £500. Other expenses included under this heading are accrued by £200.
5. The allowance for irrecoverable debts is to be adjusted so that it is 0.5 per cent of trade receivables as at 31 May 20X9.
6. ‘Purchases’ include goods valued at £1,040 that were withdrawn by Mrs Howell for her own personal use.

Required
Prepare Mrs Howell’s statement of performance for the year ended 31 May 20X9 and her statement of financial position as at 31 May 20X9.

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Property, at cost Equipment, at cost Provision for depreciation (as at 1 June 20X8) - property - equipment Inventories as at 1 June 20X8 Purchases and sales revenue Discounts allowed and received Wages and salaries Irrecoverable debts Loan interest Carriage out Other operating expenses Trade receivables and payables Allowance for irrecoverable debts Cash in hand Bank overdraft Drawings 13% loan Capital, as at 1 June 20X8 Debit £ 90,000 57,500 27,400 259,600 3,370 52,360 1,720 1,560 5,310 38,800 46,200 151 28,930 612,901 Credit £ 12,500 32,500 405,000 4,420 33,600 280 14,500 12,000 98,101 612,901