Gemini Limited, a local courier service company, prepared the following trial balance as at 31 December 20X0: Cr "000 Dr "000 3,350 4,760 13,500 9,500 980 1,920 3,580 420 2,530 63,540 920 Cash and bank balances Trade receivables Land and buildings Plant and machinery Motor vehicles Acc. depreciation land and buildings Acc. depreciation plant and machinery Acc. depreciation motor vehicles Inventory as at 1 January 20X0 Sales revenue Other income Purchases Administrative expenses Distribution costs Other expenses Finance costs 20x9 final dividend paid in February 20X0 20X0 interim dividend paid Bank loan (repayable in 2025) 800,000 ordinary shares, fully paid up Retained profits as at 1 January 20X0 Trade payables Profits tax underprovided 44,350 8,780 3,350 1040 720 850 830 2,500 16,800 2,130 3,180 450 94,990 94,990 Additional information: 1 Profits tax expense for 20X0 was to be $680,000. 2 Ending inventory at 31 December 20X0 amounted to $2,620,000. 3 Depreciation expenses for 20X0 were: Land and buildings $550,000 (Administrative expenses) Plant and machinery $930,000 (Administrative expenses) Motor vehicles $170,000 (Distribution costs) Required: a Prepare the income statement for the year ended 31 December 20x0. (12 marks) b Prepare the statement of financial position as at 31 December 20X0. (18 marks)