ASSETS Non-current assets Property, plant and equipment Land Building 150,000 42,500 192,500 Current assets Inventories 30,000 Trade receivables 18,900 Cash 15,000 63,900 Total assets 256,400 Equity and Liabilities Equity Original Capital [Owner's Capital] Retained profit 170,000 30,220 200,220 Liabilities Long-term liabilities Mortgage 40,000 Short-term liabilities Trade payables 13,180 Tax payable 3,000 16,180 Total Equity and Liabilities 256,400 1. The owner withdraw capital in the form of cash 10,000. 2. Inventories total 40,000 was purchased on credit. 3. Inventories total 20,000 was purchased for cash. 4. Credit sales revenue during the year total 75,000 (cost 35,000). 5. Cash sales revenue during the year total 100,000 (cost 50,000). 6. Receipts from trade receivables total 52,000. 7. Payments to trade payables total 40,000. 8. During the year total wages 12,000 was paid in cash. 9. Rates on the premises were paid in cash during the year was 1,200. 10. Building continued to be rented at annual rental of 10,000, which was paid in cash. 11. Mortgage interest 2,000 paid in cash. 12. A new equipment was purchased for cash 10,000 and during the year service charges 250 were also paid in cash. 13. Taxation for the current year 6,000 and 50% was paid in cash. The deferred tax from the last year was fully paid in cash this year. Required: You have been requested by the company CFO to prepare the following two primary financial statements using the double entry bookkeeping method. a) Prepare The Statement of Financial Position as at 31 December 2020 [15 marks] and, b) A comprehensive income statement for the year to that date [15 marks]