• Rent is accrued by 210
• Rates have been prepaid by 880
• 2,211 of carriage represents carriage inwards on purchases
• Equipment is to be depreciated as 15% per annum using the straight line method
• The provision for bad debts to be increased by 40
• Stock at the close of business has been valued at 13,551

Required:

Prepare a statement of comprehensive income for the year ended 31 May 2014 and a statement of financial position as at that date

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