Very difficult financial account question, Financial Accounting

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Ask questSarah is the sole distributor agent in her area for Holmes Kitchen Tiles. Sarah purchases the titles at a trade discount and annually in May receives an agency commission of 1% of the business purchases for the year ended on the previous 31 March.
For several years Sarah has obtained a Gross Profit of 40% on all sales. In a burglary in January 2007 Sarah lost stock costing 4,000 £ as well as many accounting records. However, after careful investigations, the following information has been obtained covering the year ended 31.03.2007

a) Assets and Liabilities at 31.03.2006 are as follows:
Building at cost 10,000
Provision for depreciation 6,000
Motor vehicle at cost 5,000
Provision for depreciation 2,000
Stock at cost 3,200
Trade Debtors (for sales) 6,300
Agency commission due 300
Prepayments (Trade expenses) 120
Balance at bank 4,310
Trade Creditors 4,200
Accrued vehicle expenses 230
b) Sarah will receive an agency commission of 440£ on 01.05.2007
c) Stock, at cost, 31.03.2007 was valued at 3,000 £ more than last year.
d) In October 2006 stock costing 1,000 £ was damaged by damp and had to be scrapped as worthless.
e) Trade Creditors at 31.03.2007 related entirely to goods received whose list prices totalled 9,500 £
f) Discounts allowed amounted to 1,620 £ whilst discounts received were 1,200 £. A further 350 £ of discount received will fall due on the creditor balance.
g) Trade expenses prepaid at 31.03.2007 totalled 80 £
h) Vehicle expenses for the year ended 31.03.2007 amounted to 7,020 £
i) Trade Debtors (for sales) at 31.03.2007 were 6,700 £
j) All receipts are passed through the bank account.
k) Depreciation is provided annually at the rate of 5% on cost for buildings and 20% on cost for motor vehicles.
l) Commission received are paid directly to the bank account
m) In addition to the payments for purchases, the bank payments were as follows:
Vehicle Expenses 6,720 £
Wages 4,300 £
Trade Expenses 7,360 £
n) Sarah is not insured against loss of stock owing to burglary or damage to stock caused by damp
Prepare Sarah’s P&L for the year ended 31.03.2007 and BS on that date.
ion #Minimum 100 words accepted#

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