Following additional information is given. a) Inventory at 31 December 2020 was Rs. 385,800. b) Advertisement expense amounting to Rs.28,000 is relevant for the period of 2021. C) Electricity expense for the month would be Rs.9.000. d) 90 % of promotion expenses has been paid for the period of 2020. e) Company motor vehicle is use only for the office purpose. (1) Salaries paid to the sales manager was Rs.25, 000 which included in the salaries (g) Rent income was received only for 09 months. (h) 20 % of commission income received is relevant to the period of 2021. (1) The entity has paid rates expense for 14 months. 6) Bank loan capital amounting to Rs 84,000 should be paid in 2021. (k) Rs. 5,500 should be written off as bad debts and for the balance 10 % allowance for doubtful debt should be adjusted. Required: Prepare the profit and loss and other comprehensive income statement for the year ending 31st December 2020 together with a statement financial position as at 31st 63 December 2020.