JG. Gordon manufactures computer electronic parts under license.

As at December 31, 2019, the following Trial Balance was extracted from his books.

Details	$	$
Office Furniture & Equipment	260,000
Administrative expenses	90,000
Factory Machinery	700,000
Accumulated depreciation - Factory Machinery		70,000
Stock of Work in progress - January 1, 2019	58,000
Rent and rates	82,000
Electricity	29,000
Accounts payable		408,600
Cash at bank	500,000
Drawings	60,000
Capital		765,400
Stock of finished goods - January 1, 2019	33,000
Sales		1,800,000
Purchases of direct raw materials	500,000
Stock of direct raw materials - January 1, 2019	28,000
Accounts receivable	320,000
Direct wages	160,000
Direct expense	91,000
Indirect factory expenses	133,000	-----------
	3,044,000	3,044,000

Additional information:

1. Rent and rates, and electricity are apportioned: factory 75% , office 25%.

2. Depreciate factory machinery at 10% per annum on the reducing balance method and office equipment at 10% straight line.

3. Closing stocks: Raw materials $42,000; Finished goods $30,000; W-I-P $31,000.

4. Create a Provision for Bad and Doubtful Debts to 2.5% of debtors.

5. An amount for license fee of $25,000 was not paid at December 31, 2019.

Required:

Prepare JG. Gordon Manufacturing, Trading and Profit and Loss Account for the year ended December 31, 2019.