Cre From the following Trial Balance of John Brown, store owner, prepare an Income Statement for the year ended 31 December 2017, and a Statement of Financial Position as at that date. Take into consideration the following notes for adjustments shown below: Trial Balance as at 31 December 2017 D C Sales 400,000 Purchases 350,000 Sales returns 5.000 Purchases retums 6.200 Inventory 14 January 2017 100,000 Allowances for receivables 800 Wages and salaries 30,000 Rates 6,000 Telephone 1.000 Shop fittings at cost 40,000 Van at cost 30,000 Receivables and Payables 9,800 7,000 Inrecoverable Debt 200 Capital 179,000 Bank balance 3.000 Drawings 18.000 591.000 593.000 loft Notes: i. iv. Inventory at 31 December 2017 C120,000 Accrued wages C5,000 Rates prepaid C500 The provision for allowances for receivables is to be increased to 10 per cent of Telephone account outstanding C220 Depreciate shop fittings at 10 per cent per annum, and van at 20 per cent per debtors annum, on cost (20 marks)