8 The following Trial Balance was extracted from the books of Tom Nik Trading, a wholesaler as at 31 July 2020: (a) Capital Drawings (b) Trade Receivables and Trade Payables Sales Revenue Cost of sales Wages Utilities Rent Freehold property (cost) Fixtures and fittings (cost) Vehicles (cost) Accumulated depreciation : Fixtures and fittings Vehicles Cash at bank Cash in hand Insurance Allowance for impairment of trade receivables Vehicle expenses Inventory Loan (Interest @ 10% p.a.) Interest on loan Dr ($) REQUIRED: 14 000 6 400 27 420 12 000 3 000 24 000 48 000 7 200 30 400 2 120 320 1 200 1 600 18 340 750 196 750 Cr ($) 75 000 5 800 96 150 2 300 2 000 The following additional information is available: (i) An invoice of $100 for goods purchased from creditor has been omitted from the books. 500 15 000 196 750 Owner contributes personal shelving display unit worth $2 800 for business use. Tom Nik took $450 worth of goods for his own use, and this has not been recorded in any of the books. Prepare the statement of financial performance for the year ended 31 July 2020. Prepare the statement of financial position as at 31 July 2020.