22.12 The following trial balance has been extracted from the ledger of Mr Yousef, a sole trade. The following additional information as at 31 May 2019 is available: (a) Rent is accrued by 210. (b) Rates have been prepaid by 8880 . (c) 2,211 of carriage represents carriage inwards on purchases. (d) Equipment is to be depreciated at 15% per annum using the straight line method. (e) The allowance for doubtful debts to be increased by f40. (f) Inventory at the close of business has been valued at f13,551. Required: Prepare an income statement for the year ending 31 May 2019 and a balance sheet as at that date. (Association of Accounting Technicians)