Kazibwe, a businessman does not maintain a complete set of books for his business transactions. The following is a summary of his cash transactions for the year ended December 31, 2015. Receipts Kshs Balance b/d 79,500 Cash Sales 1,457,500 Cash from credit transactions 249,100 Payments: Payments to suppliers 874,500 Salaries Cash purchases Drawings by Kazibwe 318,000 124,550 238,500 Purchase of equipment 39,750 Insurance 7,950 Rates 21,200 General expenses 12,720 Additional information: a) Kazibwe's assets and liabilities were as follows 1/1/2015 31/12/2015 Business premise (cost) 795,000 795,000 Equipment 92,750 132,500 Stock 116,600 111,300 Debtors 233,200 310,000 Creditors 164,300 219,950 Prepaid insurance 2,120 Prepaid rates Accrued wages 5,300 14,575 b) Fixed assets are to be depreciated at the rate of 10%. Required: i. Income statement for the year ended 31 December, 2015. (9 Marks) ii. Balance Sheet as at 31st December, 2015.