Part 5: The following is the Trial balance of J. Smailes as at 31 December 2018. Draw up a set of final accounts for the year ended 31 December 2018: a) the Income statement, and b) the Balance sheet Credit, Debit, 18 160 93 340 69 185 420 1 570 640 Stock on the 1st January 2018 Sales Purchases Carriage inwards Carriage outwards Return outwards Wages and salaries Rent and rates Communication expenses Interest payable Insuranse Sundry expenses Buildings Debtors Creditors Fixtures Cash at bank Cash in hand Loan (3 years) Drawings Capital 10 240 3015 624 216 405 318 20 000 14 320 8160 2 850 2 970 115 10 000 7620 40 888 152 028 Total 152 028 Additional information: Stock at 31 December 2018 is 22 390