1. From the following trial balance of A Dolphin, you are asked to draw up an SOPL statements for the year ended 31 December 2010 and a SOFP as at that date.

	Dr	Cr
Sales		108,000
Purchases	82,190
Carriage inwards	555
Carriage outwards	490
Wages	9,255
Insurance	542
Returns inwards	180
Returns outwards		212
Drawings	4,600
Premises	34,000
Equipment	8,600
Accounts receivable	4,850
Accounts payable		3,433
Bank	3,250
Cash in hand	123
Miscellaneous expenses	500
Inventory as at 1 January 2010	7,950
Rent	1,200
Rates	860
Capital		47,500
	159,145	159,145

Inventory as at 31 December 2010 8,990