877 4. The following Trial Balance has been extracted from the ledger of Mr. Yousef, a sole trader. Dr. Cr. GHe GH Sales 138,078 Purchases 82,350 Carriages 5,144 Drawings 7,800 Rent, rates and insurance 6,622 Postage and Stationery 3,001 Advertising 1,330 Wages and Salaries 26,420 Bad Debts Provision for Bad Debts 130 Debtors 12,120 Creditors 6,471 Cash in hand 177 Cash at Bank 1,002 Stock as at 1" June, 2015 11,927 Equipment: at Cost 58,000 Accumulated depreciation 19,000 Capital 53.091 216,770 216,770 The following additional information as at 31st May, 2016 is available. Rent is accrued by GH210. b. Rates have been prepaid by GH880. ..GH2,211 of carriage represents carriage purchases. d. Equipment is to be depreciated at 15% per annum, using reducing balance method. e. The provision for Bad debts to be reduced by GH40. 6. Stock at the close of business has been valued at GH13,551. You are required to prepare: a) Statement of profit or loss account for the year ended 31st May, 2016 b) Statement of Financial Position as at 31st May, 2016