On 31 March 20-8 the following trial balance was taken from the books of James Conway:

Trial Balance as at 31 March 20-8 Dr Cr

£

£

Capital on 1 April 20-7 38,200 Cash at bank 13,326 Cash in hand 234 Debtors 15,808 Creditors 13,864 Stock at 1 April 20-7 16,940 Motor van 7,000 Sales 45,736 Purchases 28,435 Telephone 672 Insurance 593 Premises 12,000 Rates 764 Loan - J Graham 5,000 General expenses 316 Wages 4,800 Motor expenses 412 Drawings 1,500 102,800 2,800 Stock at 31 March 20-8 was £15,420 You are required to prepare a trading and profit and loss account for the year ended 31 March 20-8 and a balance sheet as at that date.