The following balances are taken from the books of Dublin Ltd at 31 December:

The inventory at 31 December is €500,000.
You are required to:
■ prepare an income statement for the year ended 31 December and a balance sheet as at that date.

Transcribed Image Text:

000 Sales 50,220 Purchases 18,750 Rent and property taxes 6,200 Repairs 3,116 Wages 4,520 Fittings 23,230 Motor van 8,050 Van expenses 2,134 Office expenses 3,610 Equity at 1 January 35,000 Inventory at 1 January 400 Cash at bank 6,000 Accounts receivable 6,200 Accounts payable 4,525 Stationery 350 Power 7,185