Note: You are given the following information: a) Stock in Trade 31Dec, 1986$164,260. [Closing steck] b) The provision for bad debts is to be increased to $3,000. c) $7,960 has been included in wages \& salaries a/c, which represents the wages, cost of d) Rent receivable @31Dec,1986 \$1,300. [Cuerent Assects] e) Insurance paid in advanced @ 31Dec,1986 amounted to $860. [Current Asseif] f) Depreciation of F\&F is to be provided for at the rate of 5% on cost. [Sitright -line depreciation] [\$1500] g) The outstanding Debenture interest is to be paid. [\$8.00c] h) $70,000 is to be transferred to general reserve and provision is to be made for a dividend of 10% on the issued capital. [\$40,000] i) You are required to prepare a Trading \& Profit \& Loss a/c for the year 1986 \& a Balance Sheet as at 31Dec, 1986