The following trial balance has been extracted from the ledger of Mr. Cole, a sole trader: Trial balance as at 31 December, 2020 Particulars Debit e Credit c Sales 138,000 Purchases 82.350 Travel expenses 5,200 Drawings 7,800 Rent, rates & insurance 6.600 Postage and stationery 3,000 Advertisement 1.330 Salaries and wages 26,420 Bad debt 8,700 Investment Income 15,890 Debtors 12,120Creditors Cash in hand 1,\"?00 - Cash at bank 1,000 - Inventory ax at 1 J anuary, 2020 11,800 - Equipment at cost 58,000 - Loan Capital 226,020 m Inventory at the close of business has been valued at $13,500 Required; Prepare an income statement for the year ending 31St December 2020 and a balance sheet as at that date. an. 'I