Adaeze Okonkwo is a sole trader who keeps her books on the accruals basis. The following balances were extracted from her ledger on 31 December 2023: Capital (1 January 2023): ₦480,000; Drawings: ₦62,000; Sales: ₦920,000; Purchases: ₦540,000; Returns Inwards: ₦18,000; Returns Outwards: ₦12,000; Carriage Inwards: ₦9,500; Carriage Outwards: ₦7,200; Salaries and Wages: ₦84,000; Rent and Rates: ₦36,000; Insurance: ₦14,400; Discount Allowed: ₦5,600; Discount Received: ₦4,200; Bad Debts: ₦3,800; Provision for Doubtful Debts (1 January 2023): ₦6,000; Trade Debtors: ₦120,000; Trade Creditors: ₦95,000; Stock (1 January 2023): ₦68,000; Furniture and Fittings (cost): ₦180,000; Accumulated Depreciation on Furniture (1 January 2023): ₦54,000; Cash at Bank: ₦43,500; Cash in Hand: ₦8,000; 10% Loan (repayable 2026): ₦80,000. Additional information at 31 December 2023: (i) Closing stock was valued at ₦74,000. (ii) Rent prepaid amounted to ₦6,000. (iii) Insurance accrued amounted to ₦2,400. (iv) The provision for doubtful debts is to be maintained at 5% of trade debtors. (v) Furniture and Fittings are to be depreciated at 15% per annum on cost. (vi) The 10% loan interest for the year has not yet been paid. You are required to prepare: (a) The Trading and Profit and Loss Account for the year ended 31 December 2023. (10 marks) (b) The Balance Sheet as at 31 December 2023. (8 marks)