F. Brown drew up the following trial balance as at 30 September 2011. You are to draft the income statement for the year ending 30 September 2011 and a statement of financial position as at that date.

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Capital Drawings Cash at bank Cash in hand Accounts receivable Accounts payable Inventory: 30 September 2010 Van Office equipment Sales Purchases Returns inwards Carriage inwards Returns outwards Carriage outwards Motor expenses Rent Telephone charges Wages and salaries Insurance Office expenses Sundry expenses Inventory at 30 September 2011 was 89,404. Dr 28,600 4,420 112 38,100 72,410 5,650 7,470 254,810 2,110 760 2,850 1,490 8,200 680 39,600 745 392 216 468,615 Cr 49,675 26,300 391,400 1,240 468,615