Afia Rambo started a retail shop three years ago. Afia Rambo does not keep proper accounting records and the income tax authorities have requested that she submits proper records for her income tax assessment. Afia Rambo revealed that the following receipts and payments were made by her in the year 2018. Motor expenses 1.200 Rent paid 300 Sundry expenses 800 Wages and salaries 4,000 Cash paid to supplies 27,800 Cash received from debtors 37,650 Advertising expenses Rates 1,400 1.450 Afia Rambo is certain that apart from some drawings made from cash received all receipts and payments have been recorded. You also discovered that she withdrew goods which cost GH500 from the business for her friend Kennedy as a birthday present Discount allowed to customers amounted to GH1,020 and discount received was GH770. Customers returned faulty goods worth GH2,500. Also GH1,250 worth of goods were returned by the business for wrong color. 3 Page The assets and liabilities of the retail business in the year 2018 are given below: Dec-18|Jan-18 Motor vehicle 10.000 10.100 Furniture and Fittings 5.400 5.600 Stock in trade 4,570 3.750 Sundry expenses owing 300 Sundry debtors 3,570 2.570 Sundry creditors 1.2401 875 Wages accrued 320 220 Rates prepaid 150 100 Cash 1.650 2,350 You are required to; Prepare an income statement for the year ending December 2018 and a statement of financial position as at that date for Afia Rambo Enterprise