Based on the following information, prepare an income statement and balance sheet for the year ended 31 January 2018.

Trade payable (creditors)	$16,000
Sales Revenue	155,700
Cash at bank	19,150
Goods purchased for sale	102,000
Office and warehouse premises at cost	142,000
Wages & other expenses paid	36,450
Van rental & running expenses	11,200
Mortgage on business premises	95,000
Rent & Rates paid	7,200
Trade Receivable (Debtors)	23,000

Also note the following information:

$22,000 of goods purchased for sale were still in stock on January 31 2018.

Share capital value of $75,750 as of January 31 2018.

$20,000 retained profit as of January 31 2018.

Thank you.