Extract a trading and profit and loss account for the year ended 30 June 20X8 for G Graham. The trial balance as at 30 June 20X8 after his first year of trading was as follows:

Stock at 30 June 20X8 was £29,304.

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Equipment rental Insurance Lighting and heating expenses Motor expenses Salaries and wages Sales Purchases Sundry expenses Lorry Creditors Debtors Fixtures Shop Cash at bank Drawings Capital Dr £ 940 1,804 1,990 2,350 48,580 245,950 624 19,400 44,516 4,600 174,000 11,346 44,000 600,100 Cr £ 382,420 23,408 194,272 600,100