MKay Distributers is a manufacturing company whose annual financial performance is determined by preparing its final accounts at the end of the financial period which ends on December 31st each year. The following Trial Balance was extracted from the companys books on December 31, 2021:

Trial Balance

Details/Accounts	Dr $	Cr $
Cash at bank	20,000
Furniture and office equipment	4,000
Provision for depreciation furniture and fittings		800
Administrative salaries	12,000
Discounts	400	320
Production supervisors salaries	8,000
Net sales		105,000
Creditors		4,500
Direct raw materials inventory, January 1, 2021	4,500
Carriage Inwards on direct raw materials	2,800
Electricity	3,000
Purchases of direct raw materials	25,200
Janitorial wages	800
Finished goods inventory, January 1, 2021	5,500
License fees paid to produce goods	2,000
Commission Payable	3,600
Interest Received		2,500
Capital		30,870
Cash in hand	2,800
Rent	3,600
Direct raw materials sent back to suppliers		200
Debtors	7,000
Insurance	1,500
Work-in-progress, January 1, 2021	3,800
Bad debts	250
Cash drawings	650
Motor vehicle repairs	2,200
Production workers salaries	18,000
Provision for bad and doubtful debts		210
Motor vehicles	10,000
Accumulated depreciation on motor vehicles		2,000

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Provision for unrealized profits		500
Machinery	12,000
Provision for depreciation on machinery		1,200
Long term loan		5,500
Total	153,600	153,600

Notes:

On December 31,2021: $200 due for motor vehicle repairs was still unpaid; interest receivable for $300 was not booked to the account and $100 was owed for commission.

Inventory on December 31, 2021 were as follows: Direct raw materials $3,700; work-in-progress $4,700 ; Finished goods $6,600.

The provision for bad and doubtful debts should be moved to 2.5% of debtors while the company has a policy in place that adds 10% factory profit to its cost of production.

Rent is apportioned 3/5 to the factory while 70% of the electricity usage is for the factory; 40% of insurance charges are for the office while the motor vehicles are used equally between the office and the factory.

Depreciation is to be charged as follows: machinery 10% reducing balance; motor vehicles 20% reducing balance; furniture and office equipment 10% straight line.

Prepare the Manufacturing, Trading and Profit and Loss Account for the year ending December 31, 2021.