From the following information of the accounting book of Hope Dunn, draw up (TEUR = thousand euros) for the year ended 31 December 2019: TEUR TEUR Premises 400 Purchases 91 Sales 255 Motor Cars 48 Bank 3,5 Stock of goods at 1st January 2019 19 Cash 0,8 Postage expenses 4,07 Rent 15 Return outwards 2,5 Return inwards 1,1 General expenses 11,25 Discount Allowed 2,6 Discount Received 1,25 Accounts Payable (Trade creditors) 29,45 Loan Interest 13,2 Capital 200 Salaries 27,2 Insurance 3,4 Motor expenses 8,1 Accounts Receivable (Trade Debtors) 44,5 Commission Received 12 Carriage Inwards 1,55 Carriage Outwards 0,93 Drawings 25 Bank Loan (till 2022) 220 Total 720,2 720,2 Additional information as at 31 December, 2019 is also available (EUR): 1. Closing stocks 0 You are required: (1) an Income statement for the year ended 31 December 2019 (in TEUR) 20 marks (2) Prepare a Balance Sheet as at 31 December 2019 (in TEUR) 20 marks Use the forms that on the next page are given to solve the problem. Income Statement for 2019 year The Balance Sheet as at 31 December 2019 in TEUR TEUR TEUR Long-term Assets TEUR Shareholders' Capital TEUR 1 Sales Capital 1.1. Return inwards Drawings Net Sales, total Retained Profit per 2019 2 Cost of Goods Sold: Total Shareholders Capital 2.1 Beginning stock 2.2 Current Assets Long-term Liabilities 2.3 2.4 Current Liabilities 2.5 Cost of Goods Sold, total 3 Gross margin 4 Other incomes Total Assets Total Capital and Liabilities 4.1 4.2 Other incomes, total 5 Operating incomes, total 6 Expenses: 6.1 6.2 6.3 6.4 6.5 6.6 6.7 6.8 Expenses, total 7 Net profit before interest 8 Interest expenses 9 Net profit for year