GIANTS, a sole trader extracted the following trial balance from her books at the close of business on 31 December, 2016: Dr GHC Cr GHC 127.245 61,420 7,940 25,200 2,490 Purchases and sales Inventory 1 January, 2016 Capital 1 January, 2016 Bank overdraft Cash Discounts Returns Carriage outwards Rent and insurance Allowance for doubtful debts Fixtures and fittings Van Accounts receivable and trade payable 140 2,480 3,486 3,210 8,870 62 1,356 630 1,900 5,600 12,418 11,400 Drawings 21,400 Wages and salaries 39,200 General office expenses 319 168,383 168,383 Additional information: (a) Inventory 31" December, 2016 GHC 6,805 (b) Wages and salaries accrued at 31" December, 2016 GHC3,500; Office expenses GHC 16 Rent prepaid 31" December, 2016 GHC 600 (d) Increase in allowance for doubtful debts by GHC 110 to GHC 740 Provide for depreciation as follows: Fixtures and fittings GHC 190 and Van GHC1,400 Required: a) Prepare the income statement for the year ending 31December, 2016 19 marks