Nhende Store had the trial balance below

Trial balance as at 31 December 2018

DR CR

$ $

Purchases and sales 35 000 40 000

Sales and Purchases returns 500 620

Opening stock 10 000

Provision for doubtful debts 80

Wages and salaries 3 000

Rates 600

Telephone 100

Shop fitting at cost 4 4 000

Van at cost 3 000

Debtors and creditors 980 7 00

Bad debt 20

Capital 17 900

Bank balance 300

Drawings 1 800

59 300 59 300

Additional information

1. Closing stock $12 000
2. Accrued wages $500

• Rates prepared $50

1. Provision for doubtful debts to be increased by 10% of debtors
2. Telephone account outstanding $22
3. Depreciation shop fittings 10% Van 20% on cost

Required:

Draw up a statement of comprehensive income for the year ended 31 December 2018 and a statement of financial position as at that date [25].