1. Use the following information, to prepare Aboni's 2016 financial statements ending October 31, 2016. (37 MARKS) 800 CL Accounts payable CA Accounts receivables C | Accrued expenses payable 15 100,000 | PP Accumulated-depreciation 550,000 A 250,000 Administrative expenses Plant,property: andequipment 2.350 000 HE /A 930,000 x 525,000 S E Common stock CA Cash Cost.of-sales Depreciation Dividends paid Income tax expense 3,000,000 55,000 50,000 170,000 165,00 /A 450,000! A Patents CA Inventories LL- 1 Long-termborrowings -610,000 | L CA Marketable securities Other expenses Otherincome 60,000 55,000 40,000 cA Prepaid exgonses Revenue Delivery expenses SE 4 Retained earnings tbeginning) Short-term borrowings 250,000xL Required: Prepare the following financial statements a. Income Statement b. Statement of Retained Earnings c. Balance Sheet (12 marks) (4 marks) (21 marks)