a. Construct the Statement of Financial Position

b. Construct the Statement for Comprehensive Income

Ayfor Shop gathered the following data for the period December 31, 2019: Operating Profit Margin- 25% Sales Returns and Allowances 5,000 Sales Discount 18,000 Current Liabilities 205,000 Prepaid Expenses 15,000 Equity ratio 20% Tax rate 40% Inventory 60% of COGS Interest Expenses 10,000 COGS is 30% of Sales Additional information: Available cash is 75, 000 Accounts Receivable is estimated to have 10% of the net sales. Remaining uncollectible amount is 5% of total accounts receivable Net income is 42,000 Dividends Paid 20,000 Market price per ordinary share is valued at P20 The company acquired 320,000 worth of land and 17,860 of fixed assets during the period. . Number of shares outstanding is 41,000 at par P2/share