1. The following balances (incomplete trial balance) are extracted from the accounts of GSM plc, at 30 April 2020:

GSM plc

Trial Balance as at 30 April 2020

	Debit ()	Credit ()
Plant and Machinery: Cost	7,259,854
Vehicles: Cost	769,852
Motor Expenses	145,985
Bank Loan (repayable on 31-01-25)		12,650,500
Retained Earnings at 01-05-19		3,589,124
Electric Expenses	245,987
Purchase Returns		201,878
Sundry Expenses	103,874
Sales		98,857,934
Vehicles: Accumulated Depreciation at 01-05-19		374,161
Advertising	3,475,933
Wages	12,702,944
Trade Payables		4,032,612
Shareholder Equity		4,150,000
Freehold Land and Buildings	16,250,000
Plant and Machinery: Accumulated Depreciation at 01-05-19		3,443,893
Administration Expenses	201,114
Trade Receivables	2,990,846
Telephone Expenses	298,641
Purchases	72,874,365
Rent	8,852,148
Inventory at 01-05-19	1,052,664
Bank Balance	75,895
Total	127,300,102	127,300,102

Required: Prepare the Adjusted Trial Balance along with the Income Statement and Balance Sheet for GSM plc as at 30 April 2020.

Additional Information

No Depreciation has been accounted for yet: Plant & Machinery are to be charged at 27.5% Reducing Balance. Vehicles are to be charged using Straight Line basis with a Live Expectancy of 5 years and expected sale price of 156,250
An unhappy cash customer returned 102,999 of goods for immediate refund.
GSM plc bought 58,016 from a Credit supplier on the last day of April.
GSM plc returned 27,012 of their last Credit Purchase due to the wrong items having been delivered.
GSM paid off 48,217 of their balance to Credit customer SW plc.
Inventory on 31-05-19 was 901,553