B's Trial Balance as on 31 December 2018 Dr Cr Sales Purchases 18,462 14,629 Salaries 2,150...

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B's Trial Balance as on 31 December 2018 Dr Cr Sales Purchases 18,462 14,629 Salaries 2,150 Motor expenses 520 Rent 670 Insurance 111 General expenses 105 Premises 1,500 Motor vehicles 1,200 Debtors 1,950 Creditors Cash at bank Cash in hand 1,538 1,654 40 Drawings Capital 895 5,424 25,424 25,424 Stock at 31 December 2018 was 2,548. Required: Using the trial balance of B that was extracted after one year's trading, prepare an income statement for the year ended December 31st, 2018 and a statement of financial position as at December 31st, 2018. B's Trial Balance as on 31 December 2018 Dr Cr Sales Purchases 18,462 14,629 Salaries 2,150 Motor expenses 520 Rent 670 Insurance 111 General expenses 105 Premises 1,500 Motor vehicles 1,200 Debtors 1,950 Creditors Cash at bank Cash in hand 1,538 1,654 40 Drawings Capital 895 5,424 25,424 25,424 Stock at 31 December 2018 was 2,548. Required: Using the trial balance of B that was extracted after one year's trading, prepare an income statement for the year ended December 31st, 2018 and a statement of financial position as at December 31st, 2018.