1. J. Wright, a sole traded, extracted the following trial balance from his books at the close of business on 31 March 2019: $ $ Purchases and Sales Inventory 61,420.00 127,245.00 7,940.00 Capital Bank overdraft 23,930.00 2,490.00 Cash Discounts Returns Carriage outwards 140.00 2,480.00 62.00 3,486.00 1,356.00 3,210.00 Rent and insurance 8,870.00 Fixtures and Fittings 1,330.00 Van 4,900.00 Accounts receivable and accounts payable 11,788.00 11,400.00 Drawings 21,400.00 Wages and salaries 39,200.00 General office expenses 319.00 166,483.00 166,483.00 Additional information: i. Inventory 31 March 2019 $6,805 ii. Wages and salaries accrued as 31 March 2019, Office expenses owing $16 iii. Rent prepaid 31 March 2019 $600 Required: Prepare: a) The Income Statement for the year ended 31 March 2019 b) The Statement of Financial Position as at 31march 2019