FROMTHE FOLLOWING TRIAL BALANCE OF MR. DANYAL. PREPARE INCOME STATEMENT AND BALANCE SHEET FOR THEYEAR ENDED 31 DEC, 202I

FROM THE FOLLOWING TRIAL BALANCE OF MR. PANYAL. PREPARE INCOME STATEMENT AND BALANCE SHEET FOR THEYEAR ENDED 31 DEC. 2021. Debit accounts Cash Account Receivable Office Equipment Drawings Purchases Sale Returns Opening Inventory Wages Rent Telephone expenses Building Total 8.100 4.000 7,200 10.000 .29S 1.450 ,800 8.170 43.850 I Credit accounts Account payable Capital Sales Purchase returns 3.000 1.700 28850 300 43.850 The value Of Closing stock as on 31 Dec 2021 is SR I .220.