tion 4. Correction of errors ve received following information from N Terprise 12 400 17 700 12 300 20 500 Bank overdraft 1 July 2011 Debtors 1 July 2011 Creditors 1 July 2011 Stock 1 July 2011 Bank 30 June 2012 Debtors 30 June 2012 Creditors 30 June 2012 Stock 30 June 2012 Bad debts Cash purchases Cash sales Creditors balances set off against amounts owing to Depreciation on office equipment Cash purchase of new office equipment Discount allowed Discount received Freight inwards paid Payments to creditors 16 900 14 100 19 800 18 300 15 700 2 400 1 800 7 500 1 600 800 2 400 139 400 5 100 211 600 11 300 28 000 3 600 debtors Rates and taxes paid Receipts from debtors Sales returns Wages and salaries paid Other expenses paid Based on information provided by N Terprise your assistant have prepared following statement. Income statement of N Terprise for year end 30 June 2012 Sales Less Cost of goods sold 15,700 Stock 1 July 2011 Purchases 20 500 18,300 Freight in 41,200 Less Stock 30 June 2012 21400 (5700) Add Other operating income 211,600 Receipts from debtors