16.3 From the following trial balance of G. Still, draw up an income statement for the year ending 30 September 2020, and a balance sheet as at that date.

Dr Cr

Inventory: 1 October 2019 41,600 Carriage outwards 2,100 Carriage inwards 3,700 Returns inwards 1,540 Returns outwards 3,410 Purchases 188,430 Sales 380,400 Salaries and wages 61,400 Warehouse rent 3,700 Insurance 1,356 Motor expenses 1,910 Office expenses 412 Lighting and heating expenses 894 General expenses 245 Premises 92,000 Motor vehicles 13,400 Fixtures and fittings 1,900 Accounts receivable 42,560 Accounts payable 31,600 Cash at bank 5,106 Drawings 22,000 Capital 68,843

Inventory at 30 September 2020 was 44,780.