Edmund commenced in business as a taxi service on 1st January 2014. He purchased two cars, a Toyota for 20,000 and a Mercedes for 36,000. In March 2015 the Mercedes was involved in a collision and damaged beyond repair. The insurance company gave Edmund 20,000 in settlement of his claim. He replaced the Mercedes with an Audi at a cost of 40,000 in April 2015. Edmund's accountant adopted a policy of charging a full year's depreciation in the year of acquisition and no depreciation in the year of disposal. It is assumed that the cars will be used until the end of their useful life and thus will have no residual value. Show extract from Edmund's statement of financial position as at 31st December 2015 on the basis of depreciation using the straight line method over 10 years. O Non-current assets: Motor vehicles at cost 96000, depreciation 9600, NBV 86400 Non-current assets: Motor vehicles at cost 60000, depreciation 6000, NBV 54000 Non-current assets: Motor vehicles at cost 60000, depreciation 8000, NBV 52000