F. Harrison is in business as a trader. A trial balance taken out as at 31 January 20X9 was as follows:

The following information is to be taken into account:
1. Included in sales are goods on sale or return that cost £240 and which have been charged out with profit added at 20 per cent of sale price.
2. Outstanding amounts not entered in the books were: rent £36, sundry expenses £90.
3. Prepayments were: rates £60, insurance £10.
4. Inventories on hand on 31 January 20X9 were valued at £15,450.
5. Allowance for irrecoverable debts is to be changed to £340.
6. Depreciation is to be provided for as follows: fixtures and fittings 10 per cent per annum, motor vehicles 25 per cent per annum.

Required

Prepare a statement of performance for the year ended 31 January 20X9, and draw up a statement of financial position as on that date.

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Purchases Sales revenue Returns inwards and outwards Salaries and wages Rent, rates and insurance Sundry expenses. Irrecoverable debts Allowance for irrecoverable debts at 1 February 20X8 Inventories on hand at 1 February 20X8 Fixtures and fittings: At 1 February 20X8 Additions on 30 September 20X8 Motor vehicles: At 1 February 20X8 Sale of vehicle (book value at 1 February 20X8: £80) Sundry trade receivables and payables Cash at bank and in hand F. Harrison: Capital a/c F. Harrison: Drawings a/c Debit £ 42,400 136 4,100 860 750 134 13,630 1,400 240 920 4,610 3,820 2,600 75,600 Credit £ 50,240 348 280 120 3,852 20,760 75,600