Create statement of income and Balance sheet from following information: (5 points - 2.5 for income statement and 2.5 for balance sheet)

XYZ Company details: Details

advertising 3,000

Cash 15,000

Current portion of long term borrowing 5,000

depreciation 38,000

finance cost 10,000

Freight expense 2000

income tax 13000

inventories 50,000

Non current liabilities 60,000

prepaid expense 5,000

Property Plan and equipment 170,000

Purchases 175,000

retained earning 25,000

Revenue 350,000

Sales commission 2,000

Sales Salaries 80,000

share capital 100,000

short term borrowings 30,000

Trade and other payables 17,000

trade receivables 35,000

travelling expense 2,000