Carriage outwards Capital Notes: . Closing inventory 1,200 Rent prepaid 100 Insurance accrued 200 600 27.000 320,460 320,460 . Depreciation to be provided as follows: Motor Vehicles: 20% straight line method Office equipment: 20% reducing balance method Commissions receivable due (not yet received) 100 Required: a. Prepare an Income Statement for the year ended 31.03.2009. b. Prepare a Statement of Financial Position as at 31.03.2009.