REINFORCEMENT TASK By: Imran Sharif INCOME STATEMENT AND BALANCE SHEET Revise the format and saved histration from your register 91. Mortar Colus praided the following infomation for the year ended on December 31, 2020 6500 12500 120000 1200 98000 30600 7000 1100 1500 14000 6500 Computer Fumiture Land and buildings Stationery Revenue Ordinary goods for resale Inventory January 1, 2020 Carriage outwards Sales Returns Trade Receivables Trade Payables Carriage inwards Commission Received Salaries and wages Interest paid on Loan Bank Loan, repayable in 2025 Advertising Insurance Sales Discount Utilities charges Drawings Capital Total 1300 3200 7800 1000 10000 Additional information on December 31, 2020 Inventory is valued at $ 4300 1600 5400 1400 600 3900 REQUIRED a. Prepare the Income Statement on December 31, 2020 b. Prepare the Balance Sheet 99 700 217400 217400