Dr Cr Purchases and sales inventory 1 April 2015 Capital 1 April 2015 Bank overdraft Cash Discounts Returns inwards Returns outwards Carriage outwards Rent and insurance Allowance for doubtful debts Fixtures and fittings Van Accounts receivable and accounts payable Drawings Wages and salaries General office expenses 61,420 127,245 7,940 25,200 140 2,480 3,486 2,490 62 1,356 ,210 8,870 630 1,900 5,600 12,418 21,400 39,200 319 168,383 11,400 168,383 Notes (a) Inventory 31 March 2016 E6,805 (b) Wages and salaries accrued at 31 March 2016 3,500; Office expenses owing 16 (c) Rent prepaid 31 March 2016 600. (d) Increase the allowance for doubtful debts by 110 to 740. (e) Provide for depreciation as follows: Fixtures and fittings 190; Van 1,400 Required: Prepare the statement of profit or loss for the year ending 31 March 2016 together with a statement of financial position as at that date