The following trial balance was extracted from the books of Night shade Ltd$.$ as at $30$ September $2020$:

$ $

Land and buildings $151,000$

Motor vehicles at cost $60,000$

Accumulated depreciation on motor vehicle $(1$ October $2019)15,000$

Purchases and sales $1,204,0001,574,050$

Inventory $(1$ October $2019)91,000$

Revenue reserves $66,700$

General expenses $2,325$

Salaries and wages $244,150$

Electricity $5,600$

Bank balance $42,200$

Interim dividend paid $7,000$

Motor vehicles expenses $4,475$

Insurance $7,150$

Discounts allowed and discounts received $10,9008,300$

Bad debts written off $3,050$

Accounts receivable and accounts payable $136,500100,700$

Debenture interest paid $2,400$

Ordinary shares $($$ $40$ par value$)160,000$

Share premium $36,000$

$8\%$ debentures $60,000$

Cash in hand $9,000$

Directors$$ fees $40,000$

$2,020,7502,020,750$

Additional information:

$1.1$Goods costing $$710$ purchased on credit on $29$ September $2020,$ were in transit and therefore had not been entered in the books by close of business on $30$ September $2020.$

$2.$ Inventory as at September $2020$ was valued at $$112,300$

$3.$ A debtor who owed the company $$1,500$ was declared bankrupt. His debt has not yet been written off.

$4.$ Allowance for doubtful debts is to be set at $2\%$ of the outstanding receivables.

$5.$ Depreciation is to be provided on motor vehicles at a rate of $20\%$ per annum on cost$.$

$6.$ As at $30$ September $2020,$ outstanding motor vehicles expenses amounted to $$125$ while pre$-$paid insurance amounted to $$150.$

$7.$ Invoices issued amounted to $$950$ had completely been omitted from the records as at $30$ September $2020.$

$8.$ Provision is to be made for outstanding debenture interest and corporation tax of $$22,975.$

$9.$ The directors have proposed a final dividend of $$2\mathrm{.}50$ per share.

Required:

$1.$ Income statement for the year ended $30$ September $2020.$

$2.$ Statement of financial position as at $30$ September $2020.$

$3.$ Income Statement for the year ended $30$ September $2020$