(b) The following balances were extracted from the ABC Company on 30 h December 2019. Using the balances and the notes given below prepare the following (6 marks) i. Profit and Loss account for the year ended 31 December 2019. ii. Balance sheet as at that date Table Q3-1 Trial balance as at 30 December 2019 (6 marks) Debit (Rs) Credit (Rs) Capital Purchases 854,200 Opening stock 413,900 94,400 Sales 573,800 Trade debtors 112,400 Trade creditors 74,150 Balances at bank 70,000 25,900 Cash 50,250 Drawings Motor vehicle expenses 16,200 Motor vehicle 600,000 Furniture 15,000 Rent and rates Salaries 14,800 61,200 16,650 Electricity General expenses 2,800 Insurance 8,650 1,502,150 1,502115029050 502,150.00 Notes: i. Stocks at the end of year Rs 124,950 ii. Prepayments : Insurance 1,200 Rent and rates 800 Accrued expenses; Motor vehicle expenses Rs 1,600 General expenses Rs 900 iv. Depreciation to be charged on straight line basis; Motor vehicle 5% Furniture 10%