The following is the receipts and payments account for the year ended 31 December 2018:

Receipts:			Payments:
Balance b/f	2040		Bar Purchases	88680
Entrance fees	840		Rent	8320
Subscriptions: 2017	500		Wages	3720
2018	6100		Printing expenses	2560
2019	700		General expenses	1940
Bar Sales	104540		New Equipment	9000
Sales of investments	15000		Balance c/f	15500
	129720			129720

(1)Additional information:	01-Jan-18	31-Dec-18
Bar inventory	5440	6300
Owing for bar purchases	6120	7160
Rent due	360	720
Heating and lighting due	320	380
Subscription due	500	800
General expenses paid in advance	100	140

(2) On 31 December 2017 the club held investments which cost $10000. During the year ended 31 December 2018, these were sold for $15000. (3) Equipment was valued at $6000 on 31 December 2017. On 30 June 2018, the club purchased additional equipment at a cost of $ 10400. Depreciation is to be provided for at the rate of 10% per annum.

(a) Prepare the trading section of the income statement for the year ended 31 December 2018. (b) Prepare the income and expenditure account for the year ended 31 December 2018.