From the following ledger balances, 

prepare trial balance, income statement, and balance sheet:

Mr. X’s capital is 500,000 Drawing 20,000 Purchase 200,000 Loan 100,000 Machinery 50,000 Return to suppliers 50,000 Sales 400,000 Return inward 600,000 Carriage outward 20,000 Bad debts 5,000 Sundry Drs. 100,000 B/R 20,000 Sundry Crs. 50,000 Carriage inward 10,000 Salary and wages 5,000 Depreciation 20,000 Cash in hand 100,000 Sale of scrap 5,000 Closing stock 50,000 Prepaid tax 10,000 Outstanding wages 5,000