The following balances were extracted from the books of Patricia Chin on $31$ March $2013.$

Additional information

$1$ Inventory at $31$ March $2013$ was valued at $$4200.$

$2$ Insurance relates to a period of fourteen months to $31$ May $2013.$

$3$ A motor vehicle repair bill $$225$ was owing at $31$ March $2013.$

$4$ Bad debts of $$246$ are to be written off.

$5$ During the year Patricia took $$800$ from the bank for personal use.

No record of this was made in the books.

$6$ A purchase of fixtures and fittings during the year, $$2000,$ had been recorded in the general

expenses account.

$7$ Premises are depreciated at $2\%$ per annum on cost$.$

Fixtures and fittings are depreciated at $8\%$ per annum on cost$.$

Motor vehicles are depreciated at $20\%$ per annum using the reducing balance method.

$8,$ The provision for doubtful debts is to be maintained at $6\%$ of trade receivables.

REQUIRED

$($a$)$ Prepare the income statement for the year ended $31$ March $2013.$

$($b$)$ Prepare the balance sheet $($statement of financial position$)$ at $31$ March $2013.$

$[20]$