76. The following are the account balances of Y. Lui's business as at 31 March 2021: integ Motor van $ Office premises 127,000 210,400 Sales 513,000 Purchases 198,000 Inventory, 1 April 2020 43,000 Inventory, 31 March 2021 22,000 Accounts receivables 48,000 Accounts payables 32,000 Interest expenses 9,900 Selling expenses 16,400 Cash at bank 85,200 Capital, 1 April 2021 224,000 Bank loan (repayable in January 2022) 40,000 Drawings 20,000 Insurance 14,000 Carriage outwards 37,100 REQUIRED: (a) Prepare an income statement for the year ended 31 March 2021. (5 marks) (b) Prepare a statement of financial position for Y Lui's business as at 31 March 2021. (5 marks) (Cross-topic: Basics of Accounting Chapter 5)