i found diffculties in the following question. please help me to prepare the following financial statements for D. Staunton's business.

( e ) Erica's business produces its financial statements for the year to 31 August . The business pays its rent quarterly in advance on 1 January , 1 April , 1 July and 1 October each year . The annual rent was increased from 45,600 to 51,600 per year with effect from 1 April 2020. In Erica's financial statements.

Additional information :

1. The inventory was counted at 30 September 2020 and was valued at 26,424 .

2. Depreciation is to be applied at the following rates :

Equipment : ( reducing balance ) 30 %

Delivery vans :( straight - line ) 20 %

3. The amount shown for business rates on the trial balance includes a payment of 11,760 , which represents twelve months ' business rates to 31 January 2021 .

4. Utilities charges incurred for which no invoices have yet been received amount to a total of 4 , 167 .

5. The allowance for doubtful debts is to be set at 4 % of accounts receivable .

Required : Prepare the following financial statements for D. Staunton's business :

( a ) An Income Statement for the year ended 30 September 2020 .

( b ) A Balance Sheet as at 30 September 2020