F. Harrison is in business as a trader. A trial balance taken out as at 31 January 20X3 was as follows:

The following information is to be taken into account:
1. Included in sales are goods on sale or return that cost £240 and which have been charged out with profit added at 20 per cent of sale price.
2. Outstanding amounts not entered in the books were: rent £36, sundry expenses £90.
3. Prepayments were: rates £60, insurance £10.
4. Inventories on hand on 31 January 20X3 were valued at £15,450.
5. Provision for doubtful debts is to be £340.
6. Depreciation is to be provided for as follows: fixtures and fittings 10 per cent per annum, motor vehicles 25 per cent per annum.
Required
Prepare a statement of profit and loss for the year ended 31 January 20X3, and draw up a statement of financial position as on that date.

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Dobit Crodit Purchases ales revenue Returns inwards and outwards Salanes ond wages Rent, rates and insuronce Sundry expenses Bod debts Provision for doubtful debts at 1 February 20X2 Inventories on hand ot 1 February 20X2 Fixtures and fittings: 42,400 50,240 348 1 36 4,100 860 750 134 280 13,630 At 1 February 20X2 1,400 240 Additions on 30 September 20X2 Motor vehicles At 1 Fobruary 20X2 Sale of vehicle (book volue at 1 February 20x2 £80) 920 120 Sundry trade receivobles and payobles Cash at bank and in hand F Harrison: Capital a/c F Harrison: Drowings a/c 4,610 3,852 3,820 20,760 2,600 75,600 75.600