Question 1.1 The trial balance for Metorex (Pty) is provided below. Use Template 1 in the spreadsheet provided to do the following: 1. Prepare an income statement (8 marks) 2. Prepare a balance sheet (12 marks) Land & buildings Machinery Furniture & Fittings Accounts receivable/Debtors Inventory Petty cash Bank Shares Retained earnings Long term loan Vehicle lease Accounts payable/Creditors Sales COS - materials COS-Wages Salaries Advertising Rent Utilities Legal fees Sales commissions Stationery DR CR Rands 860 000 221 625 310 687 1125 000 1425 187 10 000 253 125 1 000 000 560 800 800 000 320 000 413 800 2 316 929 447563 195 469 184 781 122 906 50 156 27 000 52 313 107 438 18 279 5 411 529 5 411 529