Following is the Receipt and Payment Account of a Cricket Club for the year ended 2018. Receipts Amount Payments Amount Balance b/d Salaries 136,500 Cash Electricity bill 63,000 Subscriptions for the year 2018 337,500 Snack food purchased 180,000 Subscription for the year 2019 30,000 Snack bar expenses 43,500 Sale of old newspapers & periodicals 20,000 Printing & Stationery 39,000 Snack bar sales 300,000 Sports expenses 150,000 Proceeds from shows 19,600 Legal charges 90,000 5% investments Locker rent 146,250 (30.6.2018) 300,000 Life Membership fees 75,000 Telephone expenses 105,000 Legacy 51,150 Balance c/d - cash 135,000 Total 1,242,000 Total 1,242,000 Additional information: Subscription outstanding for the year 2017 was OMR 30,000 Subscription outstanding for this year 48,000 Subscription of the year 2018 received in 2017 was OMR 1,250 Electricity bill paid in advance this year was OMR 6,000 Locker rent receivable for the year 2017 was OMR 4,100 and receivable for the year 2018 was OMR 1,750 Telephone expenses outstanding for the year 2018 was OMR 8,000 The opening stock of Printing & Stationery was OMR 3,000 while the closing stock was OMR 6,000 The other balances on 1* January 2018 was Machinery - OMR 300,000 & Land - OMR 800,000 Snack bar stock - OMR 25,000 Depreciation on Machinery and Land were charged at the rate of 10% and 8% respectively. Closing stock of Snack bar stock - OMR 40,000 The CEO wants to know the financial position of this Club. As this is not a commercial organization but a Nontrading concern, what kind of accounts do you think his accountant Mr. Mohammed would have prepared. Prepare the accounts assuming that you are Mr. Mohammed. Required: Detailed presentation of the accounts should be there to help the CEO to know the financial position of the club for the year 2018 as well as to understand how the fund balance appeared both in the past year (2017) as well as the present year (2018). B) The Income and expenditure accounts of Non-trading organizations is not the same as the Balance sheet." - Justify this statement with suitable explanation on how and why you say so