4 Question 2: (25 Marks) Mr Ranrup sells computer tables. He does not keep a full set of accounting records. However, the following information has been produced from the business's records. (i) Summary of the bank account for the year ended 31" December 2019: Rs Rs Balance B/D 1,970 Payment to suppliers 85,000 Receipts from customers 96,000 Rent and rates 2,600 Sale of private car 22,100 Wages 15,100 Postage 4,710 Drawings 9,200 Repairs 650 Insurances 800 Balance C/D 2.010 120,070 120,070 (ii) Assets and liabilities, other than bank as at: 14 January 31 December Rs Rs Trade payables 4,700 2,590 Trade receivables 7,320 9,500 Rent and rates accrued 200 260 Motor car at cost 10,000 Accumulated depreciation 8,000 Inventory 4,900 5,900 Insurance prepaid 160 200 (iii) All receipts are banked and all payments are made from the business bank account. (iv) A trade debt of Rs300 is to be written off as a bad debt. Motor car is depreciated at the rate of 20% on cost per annum using the straight- line method. No depreciation is provided in the year of disposal. (vi) Discounts received during the year ended 31* December 2019 from trade payables were Rs1,100. Required: (a) Prepare Mr Ranrup's income statement for the year ended 31 December 2019. (15 marks)] (b) Prepare a statement of financial position as at 31" December 2011. (10 marks)]