Prepare an Income Statement and Balancesheet

+ Full Question Debit () Sales Purchase Returns Credit () 1,023,360 32,645 14,658 Bank Balance 8,901 Administration Expenses Freehold Land and Buildings Vehicles: Cost 1,950,000 90,250 Additional Information a) Taxation is to be paid at 23% of Profit for the Period b) Inventory of 51,369 was recorded on 31-03-20 Bank Loan (repayable on 31-08-25) 1,175,000 12,368 72,589 50,888 84,795 42,128 56,668 2,315 Telephone Expenses Retained Earnings at 01-04-19 Plant and Machinery: Accumulated Depreciation at 01-04-19 Wages Inventory at 01-04-19 Sales Returns Interest Received Electric Expenses Plant and Machinery: Cost Trade Receivables Legal Expenses Shareholder Equity Purchases Interest Paid Trade Payables Vehicles: Accumulated Depreciation at 01-04-19 Motor Expenses Rent Advertising 7,546 125,000 58,746 5,124 500,000 421,902 7,805 72,364 54,408 21,986 72,159 32,849 Total 2.998.227 2.998.227