On 31 March 2010, the last day of his accounting period, Jim Barrymore, a retailer, extracted the following balances from all accounts in his books:

Required:

(a) Set out the above balances in the form of a Trial Balance.

(b) Assuming that he holds no unsold goods and no expenses remain unpaid by the year-end, prepare his Statement of income for the year ended 31 March 2010 and his Statement of financial position as at that date.

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Sales account Purchases account Cash account Interest on loan Salaries account Rent account £86,000 £62,500 £1,495 £900 £14,250 £3,000 Stationery account Motor vehicles account Vehicle maintenance a/c Bank loan Postage account Staff welfare account £240 £12,000 £1,075 £5,000 £105 £325 Advertising account Office expenses account Furniture account Bank account Capital account Audit fees account £4,200 £165 £8,000 £7,245 £25,000 £500