Financial statements are the end products of the accounting process, prepared to present a true and fair view of the business's performance and position. Based on the provided context, a firm specifically prepares the Trading and Profit and Loss Account (or Income Statement) to show financial performance (profit or loss) and the Balance Sheet to show financial position (assets, liabilities, and capital). The context explicitly states that these statements are prepared on the basis of the trial balance, distinguishing the trial balance as a source rather than a component of the final statements. Therefore, financial statements consist of the Profit and Loss Account and the Balance Sheet.