The following trial balance was extracted from the books of J. Brown as at 31 May 2021.

	DR	CR
	$	$
Purchases and Sales	65,730	125,910
Stock at June 1, 2020	15,480	-
Bank overdraft	-	13,050
Capital	-	21,600
Cash	270	-
Discounts	4,320	2,880
Return inwards	2,430	-
Return outwards	-	1,710
Carriage outwards	6,480	-
Carriage inwards	2,850	-
Rent and Rates	5,220	-
Provision for bad debts	-	1,980
Machinery	5,100	-
Van	9,300	-
Provision for depreciation on Vans	-	3,000
Provision for depreciation on Machinery	-	1,500
Accounts Receivable and Payables	35,730	18,180
Drawings	8,640	-
Wages and Salaries	26,820	-
General office expenses	1,440	-
	189,810	189,810

Notes:

1. Closing stock $22,000
2. Wages and salaries: accrual $900; Office expenses accrued $500
3. Rent and rates prepaid $800
4. Increase the provision for bad debts to $2,000
5. Provision for depreciation Van 10% of cost, and Machinery 15% on the reducing balance method.

Required:

1. Prepare an Income Statement for the year ended May 31, 2021 (30 marks)
2. From the information provided, list the items that belong in each of the following categories:

1. Non-Current Assets (2 marks)
2. Current Assets (4 marks)
3. Current Liabilities (4 marks)