2 On 1/1/20-2 Jordan Rhodes purchased a business for 500,000 consisting of the following tangible assets and liabilities: premises 430.000: stock 21.000: debtors 25,600; three months' prepaid advertising 660: trade creditors 29,000; and cleaning expenses due 2,300. During 20-2 Rhodes did not keep a full set of accounts but was able to supply the following information on 31/12/20-2: Cash payments: Lodgements 78,000; general expenses 45,000; purchases 103,400 Bank payments: Delivery van 34,000; light and heat 3,400; annual advertising campaign 1,800; trade creditors 47,800; interest 4,000; covenant for charitable organisation 2,400; office furniture 10,000 Bank lodgements: Cash 78,000; debtors 62,500; dividends 1,200 During the year, Rhodes took from stock goods to the value of 2,300 per month and cash 1,200 per month. Rhodes borrowed 140,000 on 1/4/20-2, part of which was used to build an extension costing 120,000. It was agreed that Rhodes would pay interest on the last day of the month at the rate of 12% per annum. The capital sum was to be repaid in one lump sum in the year 20-5 and to provide for this the bank was to transfer 1,300 each month from Rhodes's business bank account into an investment fund, beginning on 30/4/20-2. Rhodes estimated that 20% of furniture and light and heat used, as well as 10% of interest payable for the year, should be attributed to the private section of the business. Included in the assets and liabilities of the firm on 31/12/20-2 were: stock 19,800 which included stock of oil 700; debtors 27,600; trade creditors 23,500; cash 900; electricity due 200; and 150 interest earned by the fund to date. You are required to: Prepare, with workings, the trading, profit and loss account for the year ended 31/12/20-2. Show the balance sheet as at 31/12/20-2