The following balances were taken from the books of Outsource Services Ltd, a small proprietor, on December 31, 2022.

$

Furniture 20 000

Motor vehicles 122 000

Bad debts 13 900

Return inwards 3 600

Discount received 6 600

Cash on hand 41 100

Return outwards 4 500

Purchases 174 000

Short term loans 80 000

Sales 360 000

Bank overdraft 29 000

Carriage inwards 5 000

Carriage outwards 8 700

Advertising expenses 10 000

Debtors 50 000

Creditors 130 000

Equipment 120 000

Salaries 120 000

Bank loans 80 000

Opening inventory 34 500

Stationery expenses 14,000

Motor Vehicle expenses 40 000

a) Prepare the trial balance for Outsource Services Ltd. The amount for capital must be included.

B)Prepare the Statement of Profit or Loss and the Statement of Financial position for Outsource Services for the period December 31, 2022