The trial balance extracted from the books of Mary, a sole trader, as at 31 December 20X9 was as follows:

	Debit	Credit
Capital		115,190
Furniture and equipment (cost 21,300)	16,520
Motor vans (cost 17,300)	11,350
Purchases	364,710
Sales revenue		459,820
Rent and rates	8,150
Salaries	39,990
Irrecoverable receivables	2,960
General expenses	10,920
Bank balance	3,230
Provision for doubtful debts		2,765
Inventory at 1 January 20X9	88,760
Trade receivables	44,690
Trade payables		31,685
Drawings	18,180
	609,460	609,460

Additional information:

1. Inventory on hand on 31 December 20X9 is 95,780.
2. Rates paid in advance at 31 December 20X9 are 630.
3. General expenses unpaid at 31 December 20X9 are 1,720.
4. Provision for doubtful debts is to be adjusted to 2,470.
5. A motor van purchased on 1 January of this year at a cost of 8,300 was traded in for 3,650 on 31 December 20X9 and a new van purchased at a cost of 10,750 on the same day. The amount due on the new van was payable on 1 January 20Y0. No entries had been made in the books in respect of this transaction when the trial balance at 31 December 20X9 was extracted.
6. Depreciation is to be charged on furniture and equipment at the rate of 5 per cent per annum on cost and at the rate of 20 per cent per annum (reducing balance method) on motor vehicles.

   Required: Prepare Marys statement of profit and loss for the year ended 31 December 20X9 and statement of financial position as at 31 December 20X9. (Input all amounts as positive values except losses which should be indicated by a minus sign..)

   Required: Prepare Marys statement of profit and loss for the year ended 31 December 20X9 and statement of financial position as at 31 December 20X9. (Input all amounts as positive values except losses which should be indicated by a minus sign..)