B. Barrett a sole proprietor had the following trial balance at the end of the financial year December 2017: (30 marks)

Accounts Dr. CR.

Inventory January 1 2017 $ 105,600

Sales $ 552,800

Purchases 282,600

Carriage inwards 2700

Carriage outwards 11,680

Return outwards 4,816

Wages and Salaries 126,800

Business rates 7600

Communication expense 1428

Commission paid 3860

Insurance 3660

Sundry expense 416

Buildings 250,000

Accounts Receivable 91,800

Accounts payable 49,740

Fixtures and Fittings 2212

Cash at Bank 62,840

Cash in hand 552

Drawings 74640

Capital 421,032

1,028,380 1,028,380

Inventory at 30 December 2017 was $116,880

Prepared B. Barrett sets of Financial Statements for the financial year December 2017.