Exercise 3: (50 pts) At 31 December Year 3, T Smith had accounts balances as below: Debtors 2,280 Creditors 2,170 Office expenses 1,290 Rent payable 1,500 Drawings 860 Cash at bank 4,300 Cash in hand 570 Furniture and fittings 20,310 Motor vehicles 20,500 Capital 46,840 Required 1. Draw up profit and loss account in case Gross profit is 4,100 (30pts) 2. Draw up a complete balance sheet for T Smith at 31 December Year 3 in case Closing stock is at 1,500 (20pts)