b) From the following list of balances; Prepare the statement of profit or loss account for a sole trader Lee for the year ended 31 July 2023 (10) (P) Bank 35,625 Drawings 206,250 Lighting and Heating 30,000 Payroll expenses 262,500 Discount received 31,875 Returns inwards 9,000 Bad debts 13,875 General expenses 62,250 Rates 67,500 Capital 405,375 Carriage inwards 9,000 Purchases 1,777,500 Sales 2,430,000 Opening inventory 172,500 Trade receivables 198,750 Trade payables 131,250 Returns outwards 15,000 Motor Van 135,000 Furniture 33,750 Closing inventory at 31 July 2023 was P213,750 c) From the same information in (b) above, prepare the statement of financial position (12)