A The following trial balance has been extracted from the ledger of Mr Yousef, a sole trader.

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A The following trial balance has been extracted from the ledger of Mr Yousef, a sole trader.

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The following additional information as at 31 May 2019 is available:

(a) Rent is accrued by \(£ 210\).

(b) Rates have been prepaid by \(£ 880\).

(c) \(£ 2,211\) of carriage represents carriage inwards on purchases.

(d) Equipment is to be depreciated at \(15 \%\) per annum using the straight-line method.

(e) The allowance for doubtful debts is to be increased by \(£ 40\).
( \(f\) ) Inventory at the close of business has been valued at \(£ 13,551\).
\section*{Required:}
Prepare an income statement for the year ending 31 May 2019 and a balance sheet as at that date.

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