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The following trial balance has been extracted from the book of Aikins company ltd. For the year ended 31 st dec 2022 Particulars Sales Purchases

The following trial balance has been extracted from the book of Aikins company ltd. For the year ended 31^st dec 2022

Inventory at the close of business has a value at 17,100 Required. Prepare an income statement for the year

Particulars Sales Purchases Travel expenses Drawings Rent, rate & insurance Postage and stationery Advertisement Salaries and wages Bad debt Investment income Debtors Creditors Cash in hand Cash at bank Inventory as of 1 January, 2022 Equipment at cost Loan Capital Debit 90,000 5,700 8,900 2,200 1,000 370 16,200 6,100 1004 880 4700 4600 Credit 150,000 11,200 270 1700 55,000

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