David Allen is the owner of an electrical business. On 30 September 20-7 the following trial balance was taken from his books:

Trial Balance as at 30 September 20-7 Dr Cr

£

£

Sales 69,480 Purchases 45,612 Stock at 1 October 20-6 9,842 Salaries and wages 7,838 Insurance 556 Returns inwards 872 Returns outwards 684 Rent and rates 740 Carriage inwards 485 Carriage outwards 414 Motor expenses 526 Discount received 452 Discount allowed 322 Motor vehicles 7,500 Fixtures and fittings 2,900 Drawings 2,500 Debtors 10,765 Creditors 8,984 Bank 5,628 Capital on 1 October 20-6 16,900 96,500 96,500 Stock at 30 September 20-7 was £8,975 You are required to prepare a trading and profit and loss account for the year ended 30 September 20-7, together with a balance sheet as at that date.