2. XYZ Ltd prepares accounts to August annually. The trial balance at 31 August 2021 is shown below: Debit Balances Credit Balances Capital on 31 July 2020 8,000 Motor Van 6,500 Bank 3,777 Inventories at 31 July 2020 2,445 Purchases 11,510 Sales Returns onwards 32,868 50 Returns inwards 420 Rent Heating and lighting Insurance Wages Bank overdraft interest Drawings Receivables Payables Further information: 1,100 1,630 1,350 6,540 350 12,000 3,720 2,870 47,565 47,565 i. The closing inventory as at 31 August 2021 is 3,480. ii. Accrued expenses on 31 August 2021 are rent - 100; heating and lighting - 340. iii. Insurance of 210 have been prepaid on 31 August 2021. iv. Ignore depreciation. Required: Prepare a statement of comprehensive income (Income Statement) and a Statement of financial position as at 31 August 2021