zed owns a small business. The following balances were extracted from her books on 31 March 2015 Motor expense Dr Cr Sales $ $ Purchases 560,000 Tax 105,000 Staff salaries 14,500 68,000 Drawings 6,700 Rent and rates 12,000 Heating and light 36,000 Inventory 6,300 Returns outwards 9,300 2,500 Returns inwards 6,200 Carriage inwards 8,700 Carriage outwards 6,900 Other receivables 300 Trade receivables 34,000 Trade payables 19,100 Bank charges B16:B20 5,500 7,800 Bank 15,000 Marketing expenses Land and buildings 500,000 115,000 Equipment 100,000 Motor vehicles 120,000 6% Bank loan (repayable on 31 December 2015) 340,000 Capital 1,049,400 1,049,400 Additional information at 31 March 2015: 1) Inventory at at 31 March 2015 $ 10200 2) $4000 motor expense was wrongly recorded in the motor vehicles account. Required: a) prepare the income statement for the year ended 31 March 2015 b) prepare the statement of financial position at 31 March 2015