I don't understand how they got 17,330 in balance sheet for the year 2000. I completely cant get how they got every figure in balance sheet and income statement for 2001. I would be really grateful if someone would take their time and explain in details how they got these figures, I know it will be quite time consuming to go through every figure, but please help me.

Bank Account: year to 31 December 20X1 Sales ledger receipts Cash Sales New shares issued 103,900 Balance, 1 January 20X1 97,200 Purchases ledger payments 2,500 Wages Rent Trading expenses New van Directors' salaries Balance, 31 Dec 20X1 203,600 5,800 8,250 119,400 21,200 11,000 14,700 3,250 20,000 5,800 203,600 Bal b/f Extracts from trial balances as at: 31 Dec 20x0 31 Dec 20X1 1,330 Inventory, at cost 43,100 55,800 Receivables 9,470 11,880 Payables 10,560 9,640 Rent paid in advance 1,000 Trade expenses accrued 2,530 Shop fittings: cost 3,700 3,700 accumulated depreciation 1,500 1,200 Van: cost 3.500 (note 1) accumulated depreciation 2,100 (note 1) Share capital 20,000 (note 2) Notes 1. A new van was bought in January 20X1 at a cost of 5,000 less a trade-in allowance of 1,750 on the old one. Depreciation is to be provided for 20X1 at 20 per cent of the cost of the new van. 2. The company is authorised to issue a maximum of 50,000 ordinary shares with a par value of 1 each. 20,000 shares were issued at par when the company was formed. During 20x1, 1,000 new shares were issued to an employee at 2.50 each. en off during 20X1. Of the dered to be bad 3. Bad debts totalling 1,360 were written off durin 11,850 receivables at the end of 20X1, 240 an and E440 doubtful. December 20X1 but not yet 4. A dividend of 30p a share was paid on 31 December 20 accounted for 5. All the other receipts and payments have gone through the account: no discounts were allowed or received. Required The Statement of financial position for Paper Ltd as at 31 December 20x0. b. The Income statement for the year ended 31 December 20X1. a Statement of changes in equity note for 20X1 and the Statement of financial position as at 31 December 20x1, for Paper Ltd. NBV Sample esamination paper Paper Limited Statement of financial position as at 31 Cent Accumulated depreciation 3.700 3.500 1.200 2.100 3,300 2.500 1,400 2.900 Shop Content Assets Receivables Prepaid tent 43.100 9,470 1.000 53,570 57.470 Total assets Liabies and equity Current l es Trade payables purchase of goods Trade payable expense Bank overdraft Total Babies Equity Share capits Retained Prottsbalancing figure 10.560 1,330 8,250 20.140 20.000 17.330 37,330 Total abilities and equity 57.470 Paper Limite me statement for the Year Ended 31 December 20X1 Sample examination questions 204,870 Sales revenue (107,670 +97,200) Less: Cost of Sales Opening inventory Purchases Less: Closing inventory 43,100 (118,480 (55,800) Gross Profit (105,780) 99,090 Profit on sale of van (NBV 1,400 - proceeds 1,700) 350 99,440 Less: Expenses Bad debts written off Trade expenses Rent Wages Directors' salaries Depreciation (1,000 + 300) Bad debt provision: increase 1,600 15,900 12,000 21,200 20,000 1,300 440 (72,440) 27,000 Net Profit Paper Limited Statement of changes in retained profits for the year ended 31 December 20X1 17,330 Retained profits at the beginning of the year Profit for the year 27,000 (6,300) Less: dividend (21,000 x 30p) 38,030 Retained profits at the year end inciples of accounting NBV Paper Limited Statement of financial position as at 31 December 20X1 Cost Depreciation 1,500 Non-current assets 3,700 2,200 4,000 6,200 1,000 5,000 Shop Van 2,500 8,700 Current Assets 55,800 11,640 Inventory Receivables Less bad debt provision (440) 11,200 67,000 73,200 Total assets Liabilities and equity Non-current liabilities: loan Current liabilities Trade payables: purchase of goods Trade payables: expenses Bank overdraft 9,640 2,530 500 12,670 Total liabilities Equity Share capital Share premium Retained Profits (balancing figure) 21,000 1,500 38,030 Total liabilities and equity 60,530 73,200