answers for question a and b

The following trial balance has been extracted from the accounting books of SAM Enterprise as of 30th November 2022. Additional Information: 1) An additional amount of $200 is to be written off as bad debts. 2) The provision for doubtful debts is to be at 10% of closing trade debtors' balance. 3) Salaries are to be accrued by $500. 4) Office rental per month is $2,500. 5) Bank interest payable is owing by $500. 6) The value of inventories on 30th November 2022 is $000. 7) Depreciation for non-current assets is to be provided as stated below: - Motor Vehicles at 20% per annum based on straight-line method. - Office Equipment at 10% per annum using the reducing balance method. Required: Based on the trial balance and additional information given above for SAM Enterprise, prepare the following statements: a) Income Statement for the year ended 30th November 2022. (25 Marks) b) Statement of Financial Position (Balance Sheet) as of 30th November 2022. (25 Marks) (Total: 50 marks) The following trial balance has been extracted from the accounting books of SAM Enterprise as of 30th November 2022. Additional Information: 1) An additional amount of $200 is to be written off as bad debts. 2) The provision for doubtful debts is to be at 10% of closing trade debtors' balance. 3) Salaries are to be accrued by $500. 4) Office rental per month is $2,500. 5) Bank interest payable is owing by $500. 6) The value of inventories on 30th November 2022 is $000. 7) Depreciation for non-current assets is to be provided as stated below: - Motor Vehicles at 20% per annum based on straight-line method. - Office Equipment at 10% per annum using the reducing balance method. Required: Based on the trial balance and additional information given above for SAM Enterprise, prepare the following statements: a) Income Statement for the year ended 30th November 2022. (25 Marks) b) Statement of Financial Position (Balance Sheet) as of 30th November 2022. (25 Marks) (Total: 50 marks)