Question 4 From the following trial balance of T Williams, prepare a trading and profit and loss account for the year ended 31 May Year 7 together with a balance sheet at that date. T Williams Trial Balance at 31 May Year 7 Dr Cr 139,200 103,500 15,320 32,000 27,230 630 5,400 4,250 960 Sales Purchases Wages and salaries Buildings Stock, 1 June Year 6 Carriage inwards Rent Fixtures and fittings Retums outwards Insurance Returns inwards Debtors Creditors Loan from T Smart Sundry expenses Carriage outwards Cash at bank Cash in hand Drawings Capital 325 430 21,460 12,240 15,000 475 2,340 4,450 195 11,400 229,405 62,005 229,405 Stock at 31 May Year 7 was valued at $ 30,580. Required: Construct the following for T Williams: i. Trading and Profit and Loss Account. ii. Balance Sheet. (10 marks)