Question 1 (70 marks) The following trial balance has been extracted from the ledger of K. Chaffinch, a sole trader, as at 31 March 2022, the end of her most recent financial year. Vehicles, at cost Furniture and fittings, at cost Provision for depreciation (as at 1 April 2021): Debit Credit 76,000 52,000 - Vehicles - Furniture and fittings Inventories as at 1 April 2021 28,000 26,000 16,000 Purchases Sales revenue Returns inwards Discounts received Wages and salaries Rent Loan interest Carriage outwards 248,000 418,000 2,560 3,280 42,600 24,000 1,200 4,320 Carriage inwards Other operating expenses Trade receivables Trade payables 3,540 43,600 26,320 26,300 Allowance for irrecoverable receivables 420 Cash on hand 250 Cash at bank 8,610 Drawings 18,000 5-year bank loan 40,000 Capital, as at 1 April 2021 25,000 567.000 567.000