The ledger of J. White contains the following balances for the year ended 31 December 2021: Inventory: 31 December 2020 20,000 Returns inwards 14,400 Returns outwards 22,600 Purchases 320,000 Carriage inwards 2,800 Sales 444,000 The business uses the periodic inventory system. Inventory at 31 December 2021 was 48,600. Instructions (a) Prepare journal entries at 31 December 2021. (b) Draw up the trading account section of the statement of profit or loss of J. White for that year