From the following trial balance and additional information construct an income statement for the year ended 31

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From the following trial balance and additional information construct an income statement for the year ended 31 March 2016 and a balance sheet as at that date.image text in transcribed

Additional information:

(a) Inventory as at 31 March was valued at £6,790.

(b) As at 31 March 2016 the following balances were prepaid:
i Office expenses £450 ii Insurance £260.

(c) Depreciation is to be provided for as follows:
i Premises: 2% on cost ii Vehicles: 20% on reducing balance.

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