14. The following trial balance was extracted from the books of Maybach Ltd at 31 Dec 20X8: Adjustments iv we sunuwny de 10yuncu al we yeal chu. 1. The closing inventory was valued at cost at 148,000 2. Administrative expenses included a payment of 12,000 for insurance for the period 1 Sep 20X8 to 30 Jun 20X8 3. 8,000 of receivables was considered doutful at the year end, and it was decided that an allowance for these should be accounted for. \begin{tabular}{|l|r|} \hline \multicolumn{2}{|c|}{ Mayfield } \\ \hline STATEMENT OF FINANCIAL POSITION AT 31/12/20X7 \\ \hline Non-current assets (NCA) & 360 \\ \hline Accumulated depreciation & 48 \\ \hline Prepaid insurance & 0 \\ \hline Inventory & 80 \\ \hline \end{tabular} \begin{tabular}{|l|r|} \hline Cash & 90 \\ \hline Accounts receivables & 90 \\ \hline Allowance & 6 \\ \hline Total assets & 566 \\ \hline Ordinary shares & 120 \\ \hline Share premium & 162 \\ \hline Retained earnings & 170 \\ \hline Trade payables & 114 \\ \hline 10% loan & 0 \\ \hline Total liabilities + Equities & 566 \\ \hline \end{tabular} Requirements: a) Prepare statement of profit or loss (SOPL) for the year ended 31 Dec 20X8 for Mayfield. b) Prepare statement of financial position (SOFP) at 31 Dec 208 for Mayfield. c) Prepare statement of cash flows (SOCF) for the year ended 31Dec20X8 for Mayfield. Assuming that the statement of financial posion of the company at 31Dec20X7 is as followed