The books of Omiye Social Club showed the following information for the year ended 31st December 2015

Balance                           3000 subscription                    130,000 proceeds from concert      9,000 interest on deposit             2,400 income from dance            7,200                                                                                               151,600

salaries              10,600 maintenance       13,000 stationary               1200 postage                    600 Dance expense     4,000 general expenses  5,400 balance c/d          116,800                              151,600

Balances as at 1st January 2015 were as follows:

Accumulated fund 266,000
Bank deposit  80,000
Clubhouse 160,000
Furniture and fittings  24,000

Additional information
i. Outstanding as at 31st December 2015:
- stationery N400
- general expenses 1,200

ii. Salaries of l0,600 paid including 1,000 owed since 2014.

iii. Depreciate clubhouse by 10% and furniture and fittings by 15%

You are required to prepare:

(a) Income and Expenditure Account for the year ended 31st December 2015

(b) Balance Sheet as at that date.