FROM THE FOLLOWING TRIAL BALANCE OF MR. NAIF. PREPARE INCOME STATEMENT AND BALANCE SHEET FOR THE YEAR ENDED 31 DEC, 2021. Debit accounts SR Credit accounts SR Machinery 21,600 Account payable 680 Account Receivable 690 Notes payable 6,000 Bank account 3,151 Capital 17,090 Selling expenses 2,270 Sales 12,739 Purchases 5,000 Discount received 627 Opening stock 1,284 Purchase returns 350 Drawings 350 Mortgage loan 3,000 Carriage in 500 Administrative expenses 1,651 General expenses 240 Sale returns 350 Investment 2,000 Furniture 14,00 Total 40,486 40,486 The value of closing stock as on 31 Dec 2021 is SR 1,300. 13TOUCH