Boris is in business as a sole trader. The following balances were extracted from his books on 30 April 2018. $ Revenue 419,000 Purchases 242,000 Returns 7,800 6,200 Inventory at May 1, 2017 28,900 Bank 6,400 Receivables and Payables 36,500 19,000 Premises 100,000 Computer equipment 40,000 Fixtures and Fixtures Provision for depreciation at May 1, 2017 10,000 Premises 64,000 Comnputer equipment 15,000 Fixtures and Fittings 4,500 Administration expenses 30,000 Carriage 11,500 Drawings 20,700 Capital at May 1, 2017 102,500 Water and electricity 12,400 Wages and salaries 51,600 Advertising 24,000 General expenses 17,400 Rent received 9,000 639,200 639,200 Additional information: a. Inventory was valued at $22,500 b. Carriage included $2,500 for collecting purchases. The remainder was for carrying goods to customers' premises c. During the year, Boris took goods for his own use, $4,500 d. Advertising expenses include $9,000 paid for a marketing campaign running form the beginning of March to the end of August 2018 e. Depreciation is charged as follows: i. Premises at the rate of 2% per annum using the straight line method ii. Computer equipment at the rate of 20% per annum using the diminishing (reducing) balance method iii. Fixtures and fittings at the rate of 10% per annum on cost Required: a. Prepare the income statement for the year ended 30 April 2018 b. Prepare the statement of financial position at 30 April 2018