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Activity 6 Xtraspin Limited is a manufacturing concern involved in the production of toys for the past 5 years. The company trial balance for the year ended 31 Dec 2013 is as follows. Dr Cr E E 000 000 Debtors 6000 Creditors 5,000 Office expenses 2,000 Telephone 1,300 Purchases 50,000 Light and heat 7,400 Machine 90,000 Wages 19,400 Sales 140,000 loan 36,100 Rent 9,000 Acc. Depreciation machine 27,000 Acc. Depreciation furniture 5,200 Share capital 2,440 Opening inventory 2.440 Bank 14,200 Furniture 13,000 Interest 1,000 215,740 215,740 Closing stock at the end of the year is f4,000 Machine is depreciated using straight line method at 10% . . Furniture is depreciated using straight line method. Its useful life is 5 year a) Prepare income statement of Xtraspin limited for the year ended 31 Dec 2013. b) Prepare balance sheet of Xtraspin Limited as at 31 Dec 2013