The financial statemems :2 9.6A F. Brown drew up the following trial balance as at 30 September 2011. You are to draft the income statement for the year ending 30 September 2011 and a statement of financial position at that date. as Cr Dr 49,675 Capital Drawings Cash at bank Cash in hand Accounts receivable Accounts payable Inventory: 30 September 2010 28,600 4,420 112 38,100 26,300 72,410 5,650 7,470 Van Office equipment Sales 391,400 Purchases 254,810 2,110 760 Returns inwards Carriage inwards Returns outwards 1,240 Carriage outwards Motor expenses 2,850 1,490 8,200 680 Rent Telephone charges Wages and salaries Insurance 39,600 745 Office expenses Sundry expenses 392 216 468,615 468,615 Inventory at 30 September 2011 was E89,404 9.9 From the following trial balance of Kingfire, extracted after one year of operations, prepare an income statement for the year ending 30 June 2012, together with a statement of financial position as at that date. Sales Purchases Salaries Motor expenses Rent and business rates Insurances -building 35,800 14,525 2,325 9,300 1,250 750 vehicles 1,200 10,000 17,500 500 Motor vehicles Fixtures Cash in hand Cash at bank Drawings Long-term loan Capital 1,250 12,000 15,000 19,275 Accounts receivable 11,725 Accounts payable 9,750 81,075 81,075 Inventory on 30 June 2012 was E3,000