$4.$ From the following balances, prepare Trading and Profit and Loss Account and Balance Sheet: Closing Stock was valued at $$30,000.$

Debit Balances: Debit Balances $($Contd$.)$:

Machinery $350,000$ Rent $45,000$

Debtors $270,000$ Sundry Expenses $20,000$

Drawings $90,000$ Carriage $15,000$

Purchases $950,000$ Credit Balances:

Wages $500,000$ Capital $1,000,000$

Bank $150,000$ Creditors $140,000$

Opening Stock $200,000$ Sales $1,450,000$

Closing Stock was valued at $ $30,000.$

The solution to this sum should include

a$)$ Trading Account

b$)$ Profit and Loss Account $($income statement$)$

c$)$ Balance Sheet $($in report format$)$