The following trial balance has been extracted from the ledgers of Narn as at 31 March 200X.

Required Prepare the income statement and the balance sheet for Narn as at 31 March 200X given that inventory at 31 March 200X was £4,200.

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Sales 79,000 Purchases 32,000 Inventory 1st April 200W 2,700 Salaries and wages 15,600 Heating and lighting 3,600 Rent 10,400 Other expenses 2,300 Fixtures and fittings 5,600 Vehicles 10,900 Motor expenses 4,500 Debtors 6,600 Creditors 5,700 Capital injection by Nam 15,000 Bank and cash 5,500 99,700 99,700