financial statements. The Accounts Manager has extracted a list of balances as at December 2021 for you to review. Revenue Administrative Expenses Distribution Costs Interest paid on loan Purchases 7 600 010 2300 000 980 231 125 000 4 500 330 1018 900 Inventories at 1 January 2021 Trade receivables Provision for doubtful debts at Jan 2021 Bad debts Non-current Investment 630 340 19 634 70 110 300 900 Additional notes i ii. iii. Provide for Administrative Expenses of $500 000 paid in advance at 31 December 2021 and Distribution Costs of $50 528 awing at 31 December 2021 Prevision for Doubtful Debts is to be maintained at 10% of receivables Inventories at 31 December 2021 were valued at $1 000 000 iv. Provide for corporation tax of $80 000 which is payable on October 1, 2022 Loan interest accrued $62 500 Required: A. Prepare for presentation to the shareholders a published Income Statement for the year ended 31 December 2021. (14 marks) B. Notes to the Income Statement. (6 marks) (Total 20 marks)