prepare an incomes statement and statement of financial position

Question 2 The following balances were taken from the books of Robin on 31st December 2019: $ Capital 4,486 Drawings 1,610 Fittings and equipment 760 Petty cash 28 Purchases 22,022 Revenue 30,432 Return outwards 158 Inventory 1st Jan 4,030 Motor van 1,150 Rent and rates 2,694 Light and heat 718 Cash at bank 1,538 Sundry expenses 392 Trade receivables 1,540 Trade payables 1,920 Motor van expenses 738 Discount received 224 Additional information: 1. Closing inventory was valued at $2,945. 2. Light and heat due $82. 3. Rent and rates in advance $94. 4. Provision for bad debts 5% on trade receivables. 5. Depreciate fittings and equipment by 10%. Required: 1. Income statement for the year ended 31st December 2019 2. Statement of Financial Position as at 31st December 2019