Below is the Trial Balance of High Table Ltd as at 31 December 2020 Trial Balance as at 31st December 2020 Debit (). Credit () 1,232,000 Sales Purchases. Rent Paid Inventory as at 1/1/20 Wages & Salaries Insurance Electricity Stationery Office expenses Motor Expenses Land and Buildings Plant and Machinery Motor Vehicles Trade Receivables / Debtors Share premium Retained earnings at 1/1/20 Cash and Bank Trade Payables / Creditors Bank Loan Interest on loan Ordinary shares of 1 each, fully paid- Dividends. 725,000 15,900.- 28,500.- 99,850. 10,500. 5,200. 3,500. 13,800. 7,250.- 500,000 200,000 120,000 11,800 100.000 36,000 221,000 10,500 120,000 1.200. 500,000 35,000 1,998,500 31.000 1.998,500 Closing inventory as at 31/12/20 Adjustments: 1. Plant and Machinery are depreciated at 10% per year and Motor Vehicles at 5% per year. All depreciation is to be provided on the straight line basis.. 2. Wages & salaries not paid for at the end of the year is 10,150.. 3. Electricity prepaid at the end of the year is 600 4. A bad debt of 1,200 to be written off at the year-end. 5. The land and buildings is to be revalued at 600,000 Required to prepare: i. the income statement for year ending 31/12/20 (13 marks) and ii. the statement of changes in equity for the year ended 31/12/20 (5 marks) and ili. the Balance Sheet as at 31/12/20 (12 marks)