I Question (4): [Total: 36 Marks] The following trial balance was extracted from the books of Rosy at the close of business on 31 December 2017 Inventory, 31 December 2016 Sales Purchases General Expenses Salaries Administrative Costs Insurance DR () 20,672 CR () 449,000 312,000 8,881 54,535 13,123 4,535 Rent 9,789 Returns 2,000 3,000 Discounts 2,000 1,000 Bad debts 545 Plant 62,000 Equipment 18,000 Accounts Receivable/Debtors 10,200 Accounts Payable/Creditors 7,800 Bank 8,500 Capital 86,980 Drawings 21,000 Total 547,780 547,780 Adjustments: a) Inventory at 31 December 2017 19,122 Required: Prepare Income statement for the year ending 31/12/2017 and a Balance Sheet as at that date