The trial balance of Isabella Stanley as at 31 March year 9 was as follows:

Adjustments a Closing inventory as at 31 March year 9 amounted to £22,000.

Prepare an income statement for the year ended 31 March year 9, and a statement of financial position as at that date.

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Administration expenses 43,000 Bank 61,000 Capital 30,000 Inventory as at 1 April year 8 18,000 Payables 33,000 Purchases 234,000 Receivables 17,000 Sales revenue 370,000 Selling expenses 26,000 Distribution costs 34,000 433,000 433,000