Handel The draft statements of financial position of three companies as on 30 September 209 are as follows. You are given the following additional information. (1) Handel purchased the shares in Schubert on 13 October 204 when the balance on retained earnings was A500,000. (2) The shares in Albinoni were acquired on 11 May 20X4 when retained earnings stood at N242,000. (3) The following dividends have been declared but not accounted for before the year end. (4) Included in the inventory figure for Albinoni is inventory valued at A20,000 which had been purchased from Handel at cost plus 25%. (5) Included in the current liabilities figure of Handel is A18,000 payable to Albinoni, the amount receivable being recorded in the receivables figure of Albinoni. Required (a) Prepare the consolidated statement of financial position for the Handel group as on 30 September 209. (15 marks) (b) Explain the difference between the accruals basis if accounting and the cash basis of accounting