Soft Metric Co extracted the following trial balance on 31 December 2020.

TRIAL BALANCE AS AT 31 DECEMBER 2020

Debit Credit
$ $
Capital at 1 January 2020 26,100

Receivables 41,000
Cash in hand 1,500
Payables 34,500
Fixtures and fittings at cost 42,200
Discounts allowed 1,302
Discounts received 1,200
Inventory at 1 January 2020 18,460
Sales 487,550
Purchases 379,590
Motor vehicles at cost 45,730
Lighting and heating 6,100
Motor expenses 3,250
Rent 10,750
General expenses 9,475
Bank overdraft 20,100
Provision for depreciation
Fixtures and fittings 2,200
Motor vehicles 15,292
Drawings 27,585
586,942 586,942
The following information as at 31 December is also available.
(a) $520 is owing for motor expenses
(b) $450 has been prepaid for rent
(c) Depreciation is to be provided for the year as follows:
Motor vehicles: 20% on cost
Fixtures and fittings: 10% reducing balance method
(d) Inventory at the close of business was valued at $20,250
(e) Marcia took some goods costing $800 from inventory for her own use. The normal selling
price of the goods is $1,600
Required
Prepare Marcia's statement of financial position and Profit and Loss as at 31 December 2020.
Total mark for the question (20 marks)