(05 Marks) II. Aruni is a sole proprietor of Geeza Traders. She does not maintain proper books of accounts. The following information is available. Balances as at 31.12.2018 31.12.2017 Non-current assets (book values) 3,780,000 4,284,000 Inventory 760,000 970,000 Trade receivables 580,000 635,000 Trade payables 475,000 550,000 Accrued expenses: Rent 25,000 Electricity 2.750 Telephone 6,300 4,300 Prepayments: Rent 14,500 Insurance 4.500 10 Summarized bank account for the year 2018 Rs. Rs. Balance as at 1 January 2018 Sales Receipts from Trade receivables Proceeds from the sale of motor vehicle 125.000 Purchase of trading stock 1.846,000 Payments to suppliers 2.480.000 Rent 139.000 3,040,000 188,000 648,000 Telephone 32.000 Electricity 98.400 V Insurance 140,100 Salary 232,000 Selling and distribution expenses 260,000 2 Purchase of equipment - - - - 248,000 Proprietor's withdrawals 420,000 Balance as at 31.12.2018 301.500 5,099.000 5,099.000 Additional Information On 31.12.2018, Geeza Traders sold a motor vehicle for Rs. 648.000 which he bought for Rs. 2,800,000 on 01.07.2015. The business depreciates motor vehicles at 25% per annum on a straight-line basis. No other non-current asset items, other than those mentioned above, were purchased or sold during the year. Discount received during the year ended 31.12.2018 from trade payables amounted to Rs. 1.450. Required: Prepare the statement of profit or loss of Geeza Traders for the year ended 31.12.2018. (15 Marks) (Total 20 Marks)