The following trial balance was extracted from the books of F. Sorley on 30 April 2013. From it, and the note about inventory, prepare his income statement for the year ending 30 April 2013, and a statement of financial position as at that date.

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Sales Purchases Inventory: 1 May 2012 Carriage outwards Carriage inwards Returns inwards Returns outwards Salaries and wages Motor expenses Rent Sundry expenses Motor vehicles Fixtures and fittings Accounts receivable Accounts payable Cash at bank Cash in hand Drawings Capital Inventory at 30 April 2013 was 11,290. Dr 108,680 9,410 1,115 840 4,900 41,800 912 6,800 318 14,400 912 23,200 4,100 240 29,440 247,067 Cr 210,420 3,720 14,100 18,827 247,067