Referring to and using the trial balance in appendix A of this brief prepare an income statement and statement of financial position for the named business.

Appendix A: Trial Balance of Godwin Trading Enterprise- DRA CRA 105,8164 23,172 136,600 19,208 91,244 1,860 1,932 Capital Salaries & Wages Sales Opening inventory Purchases Carriage in Purchases returns Carriage out Rent & Rates Motor expenses Telephone + Electricity General expenses Buildings Motor Vehicles at cost Fixtures & Fittings + Trade receivables Cash at Bank - Trade payables Sales returns Drawings Totale 1,200 2,292 2,6564 2,624 9964 1,884 50,000 20,800 12,100 23,376 2,892 + 20,386 1,230 7,2004 264,734 264,734 Additional information: 1. Closing inventory 27,7004 2. Electricity charges amounting to 150 had been omitted from the books and remain unpaid. 3. Management has decided that an amount of 376 of trade receivables cannot be recovered and should be written off from the books completely. +