XEA 201 CONTINUOUS ASSESSMENT TEST The following is the trial balance of J. Jamieson as on 31 October 2021. You are to draw up a Statement of Comprehensive Income for the year ended 31 October 2021 and a Statement of Financial Position as at the same date. (All figures in thousands) DEBIT CREDIT Purchases 16,950 Sales 23,240 Stock in hand 31 October 2020 4,135 Postages and telephone 228 Motor expenses 399 Salaries 4,364 Sundry expenses 83 Rent 390 Rates 155 Debtors (Receivables) 4,698 Creditors(Payables) 3,174 Premises 10,000 Motor vehicles 2,350 77 Fixtures and fittings 1,120 Bank overdraft 1,458 Drawings 3,850 Capital 20,850 48,722 48,722 Notes at 31st October 2021: 1. Stock on hand was 2,859 2. Expenses owing: Sundry expenses 22; Motor expenses 58. 3. Expenses prepaid: Rates 23; Telephone 11. 4. Provide for depreciation of Premises at 10 percent on cost and Fixtures and Fittings and Motor vehicles at 5 percent on cost per annum.