From the following trial balance produce an income statement for the year to 31 December 2028 and a balance sheet as at that date.

Inventory held by the business as at 31 December 2028 was valued at £8,113.

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B Wheen Trial Balance as at 31 December 2028 Sales 124,000 Purchases 78,000 Opening inventory 6,790 Premises 95,000 Vehicle 13,500 Trade receivables 6,756 Trade payables 3,544 General expenses 2,918 Office expenses 4,231 Wages 22,410 Insurance 540 Mortgage 40,000 Capital 75,000 Drawings 15,000 Bank 2,601 245,145 245,145