trader at the end of its financial year Dec 31,2002. ACCOUNT TITLE OF DEBIT CREDIT CASH 25,000 A/C RECEIVABLE 20,000 EQUIPMENT 32.800 ADVERTISING EXPENSE 3,000 PREPAID RENT 6,000 MISCELLANEOUS EXPENSE 2,000 OFFICE SUPPLIES EXPENSE 1,000 INTEREST EXPENSE 500 MDS. INVENTORY-BEGINNING 7,000 PURCHASES 25,000 CARRIAGE IN 200 SALES RETURN 900 SALARIES EXPENSE 8,000 SALES REVENUE 60,000 PURCHASES RETURN 800 PURCHASES DISCOUNT 300 2.500 COMMISSION INCOME A/C PAYABLE 5.500 CAPITAL SALEEM 39,800 NOTE PAYABEL 5.000 BANK OVERDRAFT 7,500 10,000 LONG-TERM LOAN Depreciation charged @ 2% on non-current assets Income tax 15% and Merchandise Inventory-ending Rs. 1700 Prepare Income statement and balance sheet