From the following trial balance of Pauline Ellis you are required to prepare a trading and profit and loss account for the year ended 31 May 20-7 anda balance sheet as at that date.

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Trial balance as at 31 May 20-7 DR CR Capital on 1 June 20-6 Purchases 20,508 23,308 Sales 27,974 Debtors 3,670 Creditors 2,018 Stock at 1 June 20-6 2,342 Rent 760 Lighting & heating expenses 520 Salaries and wages 2,950 Fixtures and fittings 2,500 Cash at bank Cash in hand Insurance 4,438 170 280 Motor vehicles Motor expenses Drawings 6,750 612 2,200 50,500 50,500 Stock at 31 May 20-7 was 5,995