Grekz started trading as a sole proprietor on 1 May 2020 with capital of 300,000 and an 8% business loan of 210,000. On 1 May 2020 Grekz purchased equipment and a motor van for the business. These were paid for in cash. The equipment cost 244,000 and had an estimated economic life of 10 years as from 1 May 2020 with no residual value. The motor van cost 24,000. Grekz estimated the economic life of the motor vehicle as 4 years as from 1 May 2020, with an estimated residual value of 8,000. Depreciation is to be charged equally over the economic lives of the assets. On 1 May 2020 Grekz rented business premises. The annual rental is 36,000 and the rent has been paid for up to 30 June 2021. During the year ended 30 April 2021 Grekz made sales totalling 460,800. All sales were made on credit. Customers returned goods with a total invoice value of 13,000 and received full credit. Grekz had received 345,000 from his customers by the end of April 2021 after allowing settlement discounts totalling 28,600. During the year ended 30 April 2021 Grekz made purchases totalling 365,000 including delivery charges of 5,000. Grekz paid his suppliers a total of 274,900 during the year ended 30 April 2021. On 30 April 2021 Grekz had unsold goods costing 27,600 in stock. Employee wages, salaries and associated costs for the year ended 30 April 2021 were 86,400. This includes an employee bonus of 11,400 for the year which has not yet been paid. Employee wages, salaries and associated costs for the year ended 30 April 2021 were 86,400. This includes an employee bonus of 11,400 for the year which has not yet been paid. Utility bills received and paid during the year ended 30 April 2021 totalled 12,300 but the bills for the three months ended 30 April 2021 have not yet been received. It is estimated that these will amount to 4,100. Cash payments for other expenses for the year were 35,900 Grekz withdrew cash of 2,600 each month from the business for personal use. The business loan is repayable in full on 30 April 2027. Interest on the loan is paid quarterly in 1 arrears. The interest due for the three months ended 30 April 2021 was not paid until May 2021. Required a) Using the pro formas supplied, insert the appropriate figures and, where necessary, Iabels to complete the following financial statements for Grekz: arrears. The interest due for the three months ended 30 April 2021 was not paid until May 2021. Required a) Using the pro formas supplied, insert the appropriate figures and, where necessary, labels to complete the following financial statements for Grekz: - the Statement of Cash Flows for the year ended 30 April 2021 - the Income Statement for the year ended 30 April 2021 - the Statement of Financial Position as at 30 April 2021. b) Assess the performance of Grekz's business for the year ended 30 April 2021. /PRO FORMAS Grekz started trading as a sole proprietor on 1 May 2020 with capital of 300,000 and an 8% business loan of 210,000. On 1 May 2020 Grekz purchased equipment and a motor van for the business. These were paid for in cash. The equipment cost 244,000 and had an estimated economic life of 10 years as from 1 May 2020 with no residual value. The motor van cost 24,000. Grekz estimated the economic life of the motor vehicle as 4 years as from 1 May 2020, with an estimated residual value of 8,000. Depreciation is to be charged equally over the economic lives of the assets. On 1 May 2020 Grekz rented business premises. The annual rental is 36,000 and the rent has been paid for up to 30 June 2021. During the year ended 30 April 2021 Grekz made sales totalling 460,800. All sales were made on credit. Customers returned goods with a total invoice value of 13,000 and received full credit. Grekz had received 345,000 from his customers by the end of April 2021 after allowing settlement discounts totalling 28,600. During the year ended 30 April 2021 Grekz made purchases totalling 365,000 including delivery charges of 5,000. Grekz paid his suppliers a total of 274,900 during the year ended 30 April 2021. On 30 April 2021 Grekz had unsold goods costing 27,600 in stock. Employee wages, salaries and associated costs for the year ended 30 April 2021 were 86,400. This includes an employee bonus of 11,400 for the year which has not yet been paid. Employee wages, salaries and associated costs for the year ended 30 April 2021 were 86,400. This includes an employee bonus of 11,400 for the year which has not yet been paid. Utility bills received and paid during the year ended 30 April 2021 totalled 12,300 but the bills for the three months ended 30 April 2021 have not yet been received. It is estimated that these will amount to 4,100. Cash payments for other expenses for the year were 35,900 Grekz withdrew cash of 2,600 each month from the business for personal use. The business loan is repayable in full on 30 April 2027. Interest on the loan is paid quarterly in 1 arrears. The interest due for the three months ended 30 April 2021 was not paid until May 2021. Required a) Using the pro formas supplied, insert the appropriate figures and, where necessary, Iabels to complete the following financial statements for Grekz: arrears. The interest due for the three months ended 30 April 2021 was not paid until May 2021. Required a) Using the pro formas supplied, insert the appropriate figures and, where necessary, labels to complete the following financial statements for Grekz: - the Statement of Cash Flows for the year ended 30 April 2021 - the Income Statement for the year ended 30 April 2021 - the Statement of Financial Position as at 30 April 2021. b) Assess the performance of Grekz's business for the year ended 30 April 2021. /PRO FORMAS