Exercise 1: Barakah Company Balance Sheet as at 31st December 2018 Financed by: Fixed Assets (net after depreciation) Paid-up: Share Capital 600,000 Land & Buildings 350,500 Retained Earnings 155,500 Equipment 200,500 Reserves 75.000 Vehicles 150,000 830,500 Fixtures & Fittings 50 000 Long Term Liabilities 25,000 751,000 Current Assets Current Liabilities Inventory 125,000 Other payables 100,000 Accounts Receivable 215,000 Trade creditors 245,500 Cash at Bank 120,000 Accrued expense 30.000 375 500 Cash in Hand 20.000 1231.000 1.231.000 Additional Information: Work-in-Progress is a sixth of the total Inventory. Bad Debts is $15,050 for the year. iii) Non Muslim ownership is at 15%. Required: Determine the zakat base and due for the company using: Net Current Assets method; and Net Invested Fund Method