b. In-Charge Ltd is a multinational mining group which involved in different operations. You have been appointed as Auditor to express your opinion on the drafted financial statements for the year ended 31st May, 2019. The draft financial statements for the year ended 31 March 2019 show the following: Income statement Extracts 2019 (draft) GHmillion Cost of sales (i) (10.50) Operating expenses (ii) (15.00) Statement of Financial Position extracts Fixed Assets (ii) & (iii) 20.00 Additional Information You inquired from management and the following were revealed to you. i. Cost of sales includes purchase of furniture costing GH4 500,000 during the year Page 1 of 4 ii. Operating expenses included the payment for next year's electricity bills amounting GH 300,000 iii. Some of the fixed assets presented in the financial statement were acquired 15 years ago. Required As an auditor of In-charge Ltd, consider the use of assertion level with regards to the information above to obtain audit evidence by paying attention to footnotes (i) to (iii). (15 marks)