2020 2019 S0007S000 5.250 7350 2,730 2310 525 630 420 630 630 525 Sales (all on credit) Cost of goods sold Doubtful debts expense Interest expense Salaries Depreciation Loss on sale of plant Cash Inventory Accounts receivable Allowance for doubtful debts 210 315 3.780 5,600 560 3.1 SO 2100 490 1.89 4,200 3.990 Plant Accumulated depreciation Bank overdraft Accounts payable Accrued salaries Long-term loan Share capital Dividends paid Retained camnings-balance at 30 June 2019 2.240 2.800 350 1.470 200 3.618 Additional information: plant with a carrying value of $70 000 (original cost $420 000 and accumulated depreciation of $350,000) was sold during the year. - new plant was acquired during the year dividends of $350 000 were paid during the year Required: (a) prepare an Income Statement for the year ending 30 June 2020 (use the space available on page 4) (b) calculate the closing balance of retained earnings as at 30 June 2020 (use the t-account on page 4) (e) prepare a Statement of Financial Position as at 30 June 2020, showing comparative information for the prior year (use the space available on page 5) (d) prepare a Statement of Cash Flows and reconciliation of profit to operating cash flows) for the year ending 30 June 2020, showing all workings (use the space available on page 6 for the t-accounts and the space available on pages 8 and 9 for the Statement of Cash Flow and supporting notes)