1 The trial balance of Momo Company as at 31 March 2021 is given below. Dr Cr $ S Purchases 208,430 Sales 950,610 Returns inwards 11,000 Returns outwards 6,800 Carriage inwards 13,700 Carriage outwards 29,850 Inventory, at 01 April 2020 47,000 Discounts received 4,160 Insurance 15,000 Rent 266,500 Wages and salaries 230,000 Electricity and water 53,500 Other expenses 11,250 Capital, at 01 April 2020 517,680 Drawings 72,000 Furniture and fittings 280,000 Motor vehicles 360,000 Trade receivables 66,000 Trade payables Bank loan (repayable in 2025) Cash at bank 43,500 250,000 108,520 1.772,750 1,772,750 Note: Inventory as at 31 March 2021 was $49,330. Required: Prepare the following for Momo Company: (a) a statement of comprehensive income for the year ended 31 March 2021; and (28 marks) (b) a statement of financial position as at 31 March 2021. (32 marks) (Total 60 marks)