Joyce Njeri runs a City Market stall selling curios of all descriptions. Most of her sales are for cash, although regular customers are allowed credit. No double entry accounting records have been kept, but the following information is available.

Net Assets Summary at 31 March 1999

	Sh. 000	Sh. 000
Motor Van (Pick up)
Cost		3,000
Depreciation		2,500
Net Book value		500
Current Assets
Stock	500
Debtors	170
Cash at bank	2,800
Cash in hand	55
	3,525
Current liabilities
Creditors	230
Net current assets		3,295
Net assets		3,795

Additional information:

1. Joyce Njeri bought a new motor van in January 2000 receiving a part-exchange allowance of Sh.1,800,000 for her old van. A full year's depreciation is to be provided on the new van, calculated at 20% on cost.

2. Joyce Njeri has taken Sh.50,000 per week for her personal use. She also estimates that petrol for the van, paid in cash, averages Sh.10,000 per week.

3. Other items paid in cash during the year were:

- Sundry expenses Sh.24, 000

- Repairs stall roof Sh.20 1,000

4. Joyce Njeri makes a gross profit of 40% on selling prices. She is certain that no goods have been stolen but remembers that when her friend Anne Mwende was getting married, she gave her a wedding gift of curios worth Sh.100,000. Earlier in the year, she had presented curios worth Sh.200,000 to her mother to be sold at her brother's university fees fundraiser. Both these figures are stated at selling prices.

5. Trade debtors and creditors at 31 March 2000 are Sh.320,000 and Sh.233,000 respectively, and cash in hand amounts to Sh.39,000. No stock count has been made and there are no accrued or prepaid expenses.

A summary of bank statements for the twelve months shows:

	Sh. 000
Credits
Cash banked (all cash sales)	7,521
Cheques banked (all credit sales)	1,500
Dividend income	210
	9,231
Debits
Purchase of motor van	3,200
Road license	80
Insurance on van	323
Creditors for purchases	7,777
Rent	970
Sundry	31
Accountancy fees	75
Bank overdraft interest	20
Returned cheque (assumed bad debt)	29
	12,505

Interest amounting to Sh.27, 000 on bank overdraft for six months ended 31 March 2000 was debited in the bank statement on 1 April 2000.

Required:

Joyce Njeri's trading and profit and loss account for the year to 3 1 March 2000 and a balance sheet as at that date. (Assume a 52-week year). (20 marks)