Based on the trial balance as 31 March 2020 above, prepare the following statements in the excel template given

The trial balance of Boss Ltd, as at 31 March 2020 is listed below: Credit ($) Debit (5) 40,100 37,700 198,500 75,400 45,000 150,000 49,300 11,050 18,000 4,800 610,500 Opening stock, 1 April 2019 Return inwards Trade receivables Trade payables Franchise Bank loan (due in year 2030) Return outwards Drawings Loss on disposal of fixed assets Discount received Sales revenue Purchases Office equipment Motor vehicle Office expense Shop utilities expense Insurance expense Shop rental expense Oflice stationery expense Donations to Red Cross Society Discount allowed Salesmen's salaries Commission expense Carriage Advertising Interest on loan Interest on bank overdraft Furniture and fittings Capital, Barry Bank overdraft 309,740 89.100 350,440 24,000 9,300 43,245 76,000 2,050 4,500 13,000 38,620 10,080 24,874 36,678 4,800 3,100 90,123 560,000 30,000 1.480.000 1.480.000 Additional information: CH Picture L Value of stock as at 31 March 2020 was $151,500. The amount of carriage shown in the trial balance consisted of carriage on purchases of $8,100 and the remaining amount was for delivery of goods to customers. Required: Based on the Trial Balance as at 31 March 2020 above, prepare the following statements in the excel template given: (a) A properly classified Profit & Loss Statement (narrative format). 6) A properly classified Statement of Financial Position (narrative format). Please note that in the Excel Template below, both statements are already partially prepared for you (Total: 25 marka)