Accounts Dr $ 7,940 Cr $ $ 114,840 1,900 15,600 6,000 3,870 1,500 13,140 12,418 Inventory (January 1, 2020) Sales Computer Motor Vehicle Utility Expenses Insurance Bank Overdraft Cash Accounts Receivables Accounts Payables Mortgage Purchases Return Outwards Return Inwards Wages and Salaries Motor Vehicle Expenses Sundry Expenses Drawings Capital (January 1, 2020) 11,400 30,490 91,420 2,130 1,356 30,200 6,996 320 10,400 201,560 41,200 201,560 Note: Inventory at December 31, 2020 were $12,320 Required: 1. Prepare a statement of Profit or Loss for year ended December 31, 2020. (10 marks) II. Prepare a Statement of Financial Position as @ December 31, 2020. (10 marks)