particulars	debit GHS	credit GHS
sales		276,000
purchase	164,700
travel expenses	5,200
drawings	7,800
rent, rates & insurance	6,600
postage and stationery	3,000
advertisement	1,330
salaries and wages	26,420
bad debt	8,700
investment income		29,420
debtors	12,120
creditors		2600
cash in hand	30,850
cash at bank	3,700
inventory as at 1 January, 2022	23,600
equipment at cost	158,000
loan		38,000
capital		106,000
	452,020	452020

the following trial balance has been extracted from the ledger of case a sole trader: the balance as at 31 December, 2022 is shown above.

inventory at the close of business has been valued at GHS 13,500

required;

prepare an income statement for the year ending 31 December,2022 and a balance sheet as at that date.