One of your clients, Steve who does not keep full accounting records has asked you to calculate his profit for the year to $30$ April $2020$ and his bank balance at that date. Your file on last year$$s accounts shows that his assets and liabilities at $30$ April $2019$ included the following:

Inventory $$15,800$

Receivables $$23,750$

Payables $$16,800$

Cash at bank $$7,500$

Capital $$42,900$

In the year to $30$ April $2020,$ Steve received $$204,800$ from his customers. Before banking the cash he used $$2,900$ to pay business expenses and took cash drawings of $$17,900.$ He also banked $$3,000$ from the sale of some personal assets.

He wrote cheques totalling $$191,650.$ Of this amount, $$3,100$ was drawings and $$22,800$ was for business expenses. The rest of the cheques were paid to suppliers.

At $30$ April $2020$ his inventory was valued at $$16,200.$ At that date he was owed $$25,400$ by his customers and he owed $$17,900$ to his suppliers. You estimate that your fee for this work will be $$150.$

You have already calculated that the depreciation charge on Steve$$s non$-$current assets for the year to $30$ April $2020$ is $$2,450.$

Required:

$($a$)$ Calculate Steve$$s bank balance at $30$ April $2020.(7$ marks$)$

$($b$)$ For the year to $30$ April $2020,$ calculate Steve$$s:

$($i$)$ Sales; $(7$ marks$)$

$($ii$)$ Purchases; and $(7$ marks$)$

$($iii$)$ Gross Profit. $(7$ marks$)$

$($c$)$ Based on the gross profit you have calculated in $($b$)$ above, calculate Steve$$s net profit for the year to $30$

April $2020.(7$ marks$)$