The following information relates to the year ended 31 March 20*8 for Catherine: stock at 1 April
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The following information relates to the year ended 31 March 20*8 for Catherine: stock at 1 April 20*7 £1,549; stock at 31 March 20*8 £1,471; purchases £54,772; sales £127,773; returns inward £321; returns outward £84; carriage inward £270; carriage outward £129; wages £41,005; motor expenses £2,756; rent £4,750; rates £1,254; insurance £2,674; advertising £1,547; heat and light £2,541; telephone £3,428; general expenses £6,539.
Required
Prepare a trading and profit and loss account for the year ended 31 March 20*8.
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