15 milion -Accumulated depreciation is 10% of affected Cash in bank Other eurrent assets Cash surrender value Dividends payable Land Machinery and eq Mortgage payable Notes payable- 3 yrs.2 million Deferred tax llability Notes receivabie Ordinary shares, P100 par, 100,000 shares authorized, 60,000 shares issued Other non-current assets 1 million Petty cash fund Plant expansion fund Prepaid expenses Retained earnings 2 million Furniture and fixtures Current portion bonds payable 500,000 500,000 3 million 5 million Accrued interest income 100,000 1 million BSP treasury bills due in 3 mos 15 million 2 million 200,000 Investment in bonds Office supplies unused Other current liabilities 3 million 300,000 Share premium - ordinary 1 million Share premium Treasury shares-preference-A million Treasury shares- ordinary 2 million Required: Prepare Statement of Financial Position in good form B.) You are given the following data from the income statement of Paote Corp. for the yo ended Dec. 31, 2017: 30% 300,000 200,000 Net income is 10% of sales Loss on sale of fixed assets Dividend income Gross profit (40% of cost) Depreciation Income tax rate 100,000 Interest expenses Interest income Inventory, Dec. 31 Other expenses Purchase returns Purchases Salaries and wages Sales discount Sales 300,000 4 million 200,000 300,000 300,000 400,000 2 millios 200,000 Purchase discount 6 million -Freight in 1 million 400,000 Inventory, Jan. 1 Freight out Sales returns 500,000 Required: Prepare income statement in good form. 15 milion -Accumulated depreciation is 10% of affected Cash in bank Other eurrent assets Cash surrender value Dividends payable Land Machinery and eq Mortgage payable Notes payable- 3 yrs.2 million Deferred tax llability Notes receivabie Ordinary shares, P100 par, 100,000 shares authorized, 60,000 shares issued Other non-current assets 1 million Petty cash fund Plant expansion fund Prepaid expenses Retained earnings 2 million Furniture and fixtures Current portion bonds payable 500,000 500,000 3 million 5 million Accrued interest income 100,000 1 million BSP treasury bills due in 3 mos 15 million 2 million 200,000 Investment in bonds Office supplies unused Other current liabilities 3 million 300,000 Share premium - ordinary 1 million Share premium Treasury shares-preference-A million Treasury shares- ordinary 2 million Required: Prepare Statement of Financial Position in good form B.) You are given the following data from the income statement of Paote Corp. for the yo ended Dec. 31, 2017: 30% 300,000 200,000 Net income is 10% of sales Loss on sale of fixed assets Dividend income Gross profit (40% of cost) Depreciation Income tax rate 100,000 Interest expenses Interest income Inventory, Dec. 31 Other expenses Purchase returns Purchases Salaries and wages Sales discount Sales 300,000 4 million 200,000 300,000 300,000 400,000 2 millios 200,000 Purchase discount 6 million -Freight in 1 million 400,000 Inventory, Jan. 1 Freight out Sales returns 500,000 Required: Prepare income statement in good form