The following information relates to A. Trader's business:

During the year, Trader had sold private investments for £4,000 which he paid into the business bank account, and he had drawn out £200 weekly for private use.

Required:
Prepare a statement of financial position as at 31 December 2016 and give the net profit as at that date.

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Assets and liabilities at Fixtures Account receivable Inventory 1 January 2016 31 December 2016 f 18,000 16,200 4,800 5,800 24,000 28,000 Accounts payable 8,000 11,000 Cash 760 240 Balance at bank 15,600 4,600 Loan from B. Burton 6,000 2,000 Motor vehicle 16,000