Ex. 4. The following information relates to the business of Jan Smart, a sole trader, as at 31 December 2015: Stock - 1 Jan 2015 9,850 Stock - 31 Dec 2015 5,780 Purchases 48,715 Sales 72,220 Returns inwards 3,780 Returns outwards 4,030 Carriage inwards 500 Wages 9,950 Rent and rates 5,750 Carriage outwards 250 Sundry expenses 9,990 You are required to prepar Income statement for the year 2015 Ex. 5. The following balances have been extracted from the books of David Hollamby, a sole trader, as at 31 December 201x: Premises 35,000 Equipment 5,000 Net profit for year 18,000 Equity as at 1/1/2017 30,000 Stocks at 31/12/201x 6,700 Cash in hand 500 Bank overdraft 2,400 Debtors 7,200 Creditors 9,000 Drawings 5,000 ou are required: 1) Prepare Balance sheet as at 31/12/201x; 2) Show the Owner's capital account as at 31/12/201x