The following balances were extracted from the books of accounts of Mambo Leo Enterprises as at 31^st December 2010.

Shs.

Stock (31^st December 2010) 294,600

Carriage outwards 20,000

Carriage inwards 31,000

Return outwards 32,200

Purchases 1,187,000

Sales 1,851,000

Discounts received 19,000

Salaries and wages 362,800

Discounts allowed 30,400

Insurance 36,800

Stock (1^st January 2010) 236,000

Required

Prepare the trading, profit and loss account for the year ended 31^st December 2010.