Lin has been in business as a retailer and the following balances were extracted from his books on 31 December 1998. $ Capital, 1 July 1998 7,000 Stock, 1 July 1998 2,644 Freehold premises (at cost) 6,400 Carriage on purchases 590 Debtors 3,500 Creditors 2,300 Bad debts written off 896 Purchases Sales receipts Returns inwards Returns outwards 28,485 39,592 415 614 Discount received Wages Rent and rates 412 6,200 1,000 Lighting 114 Insurance Cash in hand Bank overdraft 452 63 841 You are required to prepare the Trading, Profit and Loss Accounts for the half year ended 31 December 1998 and a Balance Sheet as at that date showing as much detail as possible and taking into account the following: (i) The closing stock was valued at $2,089; (ii) Lin had withdrawn for his own personal use, $100 from the sales receipts every month. This has not been taken into account; (iii) A provision of 5% of debtors is to be created; (iv) of the $452 for insurance, $68 was insurance premium for Lin's own private dwelling; (v) It was estimated that $37 was owing for lighting