F. Giannopoulos drew up the following trial balance as at 30 September 2020. You are to draft the income statement for the year ending 30 September 2020 and a balance sheet as at that date.

Inventory at 30 September 2020 was £89,404.

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Capital as at 1 October 2019 Drawings Cash at bank Cash in hand Trade receivables Trade payables Inventory: 30 September 2019 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 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 Cr 49,675 26,300 391,400 1,240 745 392 216 468,615 468,615