Task The following Trial Balance was extracted from the books of Yeovil Place

Task
The following Trial Balance was extracted from the books of Yeovil Place as at the close of business on 30th June 2018.
Debit Credit
£ £
Leasehold Premises 20 000
Furniture & Equipment 8 800
Capital Invested 16 979
Stocks at 01/07/2017 900
Purchases 40 528
Sales 84 436
Creditors 4 000
Wages 12 730
Bank Loan 4 500
Council Tax 1 640
Gas & Electricity 2 444
Debtors 150
Business Expenses 1 456
Cleaning 760
Maintenance 1 000
Advertising and Promotions 2 550
Owners Drawings 11 000
Loan Interest 500
Cash in Hand 890
Bank Balance 4 567
TOTALS 109 915 109 915
Stocks as at 30th June 2018 was £720
Required:
Task 1:
Using the trial balance information provided, prepare a Profit and Loss Statement of Yeovil Place for the year ended 30th June 2018 and a Balance Sheet as at that date. (40 marks) – Please ensure that you show all your workings to gain full marks. You may use templates provided.
Task 2:
Comment on the performance of the business using ratio analysis, conduct a Cost and Revenue analysis and advise the company on ways of improving profitability and performance based on the information above and the result from 1 (above). (35 marks) – 1 500words

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