Halibatu, a sole trader, deals in phones and computer accessories at the Ohiamankwa Enterprise. The following Trial Balance was extracted from her books at 31" December, 2019 Drawings & Capital Receivables & Payables Purchases & Sales Rent & Rates Gas & Electricity Carriage Salaries & Wages Bad debts Allowance for receivables Inventory (1/1/2019) Insurance Discounts Advertising Cash at bank & on hand Investment in 91-Day Treasury Bills Interest on investment received Motor Vans at cost Computers (cost GH5million Provision for depreciation: Motor Vans Motor Expenses Returns Rent received Freehold premises at cost DR. CR. GHS'000 GHS'000 2,128 18,043 7,689 5,462 62,101 122,242 900 246 200 8,268 247 326 9,274 172 150 350 933 2,142 740 56 16,000 3,600 8,600 861 232 54 750 40.000 155,883 155,883 Additional information: a) Inventory as at 31 December, 2019 was GHS 9,884,000 b) Rent & Rates paid covered the period 19 January, 2019 to 31" March, 2020. Some tenants have not yet paid their rent to Ohiamankwa Enterprise. The amount involved was GHS 250,000. d) Electricity bill of GHS 85,000 for December, 2019 has just been received. Halibatu intends to pay within the third week of January, 2020. No record has been made in the books. GHS 80,000 out of total carriage of GHS 200,000 relates to carriage on purchases made Allowance for receivables is adjusted to 5% of total receivables at the end of the year. g) An amount of GHS 202,000 was spent on the personal vehicle of Halibatu. This was included in the motor expenses. Depreciation is to be charged on vans at annual rate of 20% on cost. Computers are to be depreciated at the rate of 25% using the reducing balance method. You are required to prepare: ) Income statement for the year ended 31 December, 2019 ii) Statement of financial position as at 31 December, 2019 (10 marks) (10 marks) (Total 20 marks)