Question 2 The following are the balances extracted from the books of Federov at 31 December 2020. Capital The following is the trial balance extracted from the books of Federov at 31 December 2000. 20,000 Loan account 2.000 Drawings 1,750 Freehold premises 8,000 Fumiture and fittings - cost and accumulated 700 Plant and machinery - cost and accumulated 8,000 Stock at 1 January 8,000 Cash at bank 650 Purchases 86,046 Sales 124,450 Bad debts 256 Bad debts recovered 245 Trade debtors 20,280 Trade creditors 10,056 Bank-charges 120 Rent 2,000 Returns inwards 186 Returns outwards 175 Salaries 3,500 Wages 8,250 Travelling expenses 1,310 Carnage inwards 156 Discounts allowed 48 Discounts received 408 General expenses 2,056 Commission receive 3,200 Gas, electricity and water 2,560 Carriage outwards 546 Travellers' salaries and commission 5,480 Printing and stationery 640 321,068 Notes: Stock at 31 December 2020 was valued at 7,550 at cost and 7,850 at net realizable value. Required: Construct the following for Federov: i. Trial balance. ii. Trading and Profit and Loss Account. iii. Balance Sheet. (15 marks)