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The following is income Statement of Faloon Lid for the year ended 31 Dec 2021 2021 COCO Ravenue 15.650 Cost of a 8,500) Gross proft 7,150 Espen (200) interest expense 142) Profit before tax 5.908 Tapente (1.2001 Proft hertex 4708 2920 ACTS noco CODO Non A ZELO 2,000 2.60 Le Dereito Met Bore often U D 1400 ate 200 Tuula 8.130 EGUTES AND MES Paasaa 200 220 VO Curents Taste 25 000 - 1200 style 20 Nabi De Toled 5220 TUSES Non-current Llebilities Debenture Loon lo 45 Total Equity and Liabilities 5,920 11.555 You are informed that al Equipment which originally cost 300,000 wes sold for cash of 350,000. Accumulated depreciation relating to the plent sold mounted to 50,000 The profit/loes on disposal is included in expenses in Income Statement b) The company issued 500,000 ordinary shores at a price of 915 e esch Dividend payment for the year wes 138,000. djincrease in Land's value of 20,000 relates to its revaluation during this year. Required: Prepare the complete statement of ceshtowe for Falcon Ltd for the year ended 31 Dec 2021. Snow supporting workings. (40 marks) The following is income Statement of Faloon Lid for the year ended 31 Dec 2021 2021 COCO Ravenue 15.650 Cost of a 8,500) Gross proft 7,150 Espen (200) interest expense 142) Profit before tax 5.908 Tapente (1.2001 Proft hertex 4708 2920 ACTS noco CODO Non A ZELO 2,000 2.60 Le Dereito Met Bore often U D 1400 ate 200 Tuula 8.130 EGUTES AND MES Paasaa 200 220 VO Curents Taste 25 000 - 1200 style 20 Nabi De Toled 5220 TUSES Non-current Llebilities Debenture Loon lo 45 Total Equity and Liabilities 5,920 11.555 You are informed that al Equipment which originally cost 300,000 wes sold for cash of 350,000. Accumulated depreciation relating to the plent sold mounted to 50,000 The profit/loes on disposal is included in expenses in Income Statement b) The company issued 500,000 ordinary shores at a price of 915 e esch Dividend payment for the year wes 138,000. djincrease in Land's value of 20,000 relates to its revaluation during this year. Required: Prepare the complete statement of ceshtowe for Falcon Ltd for the year ended 31 Dec 2021. Snow supporting workings. (40 marks)