The trial balance of Hobo Ltd as at 30.9.X6 was as follows:

The following additional information is available:
Stock as at 30.9.X6 was valued at £20,650.
Premises and equipment are used at 50% production and 50% distribution, and are to be depreciated at the rate of 1% and 10% straight line respectively.
Vehicles are only used for distribution, and are depreciated at 20%
reducing balance.
A provision for bad debts of 5% is to be allowed for.

Final dividend of 15p per share is proposed.
£500 was prepaid for rent and £600 is owing for production wages as at 30.9.X6.
Taxation for the year is estimated at £22,680.
Prepare the profit and loss account and balance sheet for Hobo Ltd as at 30.9.X6 in a form suitable for publication.

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Dr Cr Audit fee 1,200 Bad debts 5,320 Debtors and creditors 92,360 111,450 Delivery expenses 22,060 Productive wages 32,300 Warehouse wages 30,200 Administrative salaries 15,200 Purchases and sales 426,500 623,300 Administration expenses 5,600 Rents administration 12,600 Stock 1.10.X5 18,950 Ordinary 50p shares 100,000 Share premium account 50,000 Retained profits 1.10.X5 26,000 Premises 275,000 Vehicles 18,500 Equipment 12,000 Depreciation as at 1.10.X5 Premises 3,750 Equipment 3,600 Vehicles 6,500 7% debentures Bank 95,000 51,810 1,019,600 1,019,600