Record the following transactions of Carlos using double-entry bookkeeping; summarize them in the form of a trial balance, and prepare an income statement for the three-month period, and a statement of financial position as at the end of the period.

The inventory of unsold cars, the inventory, remaining at the end of September was £38,100 at cost. Ignore depreciation.

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1 Jul 3 Jul Carlos started a business dealing in second-hand cars and opened a business bank account with 40,000 Carlos borrows 15,000 from the Spano Bank 5 Jul Pays 5,000 to rent premises 8 Jul Buys furniture and equipment for 11,000 13 Jul Buys cars on credit from Motosales Ltd for 50,000 19 Jul Pays general expenses of 2,500 27 Jul Sells one car for 4,000 cash 3 Aug Sells cars on credit to Minki Cabs for 18,000 10 Aug Buys one car for 3,300 cash 16 Aug Buys cars on credit from Motosales Ltd for 22,000 30 Aug Pays 40,000 to Motosales Ltd 6 Sep Pays general expenses of 3,300 14 Sep Receives 15,000 from Minki Cabs 21 Sep Sells cars for 24,000 cash