The following trial balance was extracted from the books of M Meen on 31/12/2015. Particulars Debit Credit Equipement rental 940 Insurance 1,804 Capital 194,272 Cash at Bank 9.346 Light and heating 1,990 Drawings 44,000 Motor expenses 2,350 wages 174,000 Accounts payable Accounts receivable 45,000 Salaries 48,580 Sales Purchases 245,950 Discount Allowed 624 Discount Received Machinery 19,400 Other Debtors 44,516 Other Creditors 20,982 Opening inventory 01.01.15 500 Fixtures 4,600 643,600 643,600 Additional information: Inventory at 31/12/2015 was 23000. Prepare Income statement for the year ending 30/4/2016 42,000 385,420 926