The following trial balance was extracted from the books of R Booth at the close of business on 31 December 2009.

Additional information:
1 Inventory at 31 December 2009 £19,122 2 Salaries accrued at 31 December 2009 £5,435 3 Administration costs owing at 31 December 2009 £312 4 Insurance paid in advance at 31 December 2009 £765 5 The provision for doubtful debts is to be maintained at 5% of trade receivables 6 Depreciation is to be provided as follows: Plant: 20% on cost; Equipment: 20% reducing balance.
Prepare a statement of comprehensive income for the year ending 31 December 2009 and a statement of financial position as at that date.

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Opening inventory Sales Purchases General expenses Salaries Administration costs Insurance Rent Bad debts Plant Equipment Provision for depreciation: Plant Provision for depreciation: Equipment Provision for doubtful debts Trade receivables Trade payables Bank Capital Drawings 20,672 312,000 8,881 54,535 13,123 4,535 9,789 545 62,000 18,000 10,200 8,500 21,000 543,780 449,000 9,500 5,200 280 7,800 72,000 543,780