During his speech in the monthly meeting of the board of directors of XYZ Company, Mr. Khalid, (The CFO) presented number of AIS reports with a brief description of each as follows: Report Name Report description 1- Customer statement Accounting statement that shows a customer charges, the payments the customer makes, and the balance amount that is due on the customer account 2- Annual financial statements. Balance sheet, Income statements and statement of cash flows 3- Quarterly Value added tax return. Lists the amount of taxable and exempted product sales in addition to the amount of collected value added tax. 4- Accounts receivable aging schedule. Lists customer account balances by length of time outstanding S- Annual income tax retum. The tax form used to file income taxes with the tax authority. 6- Quarterly financial statements. Balance sheet, Income statements and statement of cash flows, 7. Debit memo. Reflects the amount that should be debited to the vendor's account 8. Outstanding balance by vendor report Lists the gross amount of all outstanding vouchers for the specified vendor Extra Information XYZ Company is a listed corporation at Abu Dhabi Stock Market, and it is required to collect value added tax on all provided services. Please copy the table that follows to your answer book and determine (a) the relevant category of each report and (b) the expected user of each report as well. Report Name (a) Report Category (Discretionary - Mandatory - Essential (b) Expected Report Users 1 - Customer statement 2- Annual financial statements, 3. Quarterly value added tax retum 4- Accounts receivable aging schedule. 5- Annual income tax return. 6- Quarterly financial statements 7- Debit memo 8- Outstanding balance by vendor report