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Question 2 The balances below have beet extracted from the accourting recorts of Fernando Limited at 31 Deoember 2022 You are given the following information: Irventory at 31 December 2022 at cost was 485,000 Trabe receivables in the sial bulance includes an amount of f3.000 which is ineocuerable. Page 5 of 9 An amual insurance premium of C12.000 was paid oe 15 Sestember 2022 and is inclused in administration expenses in the that balance above. The annuat insurance peenium is for 12 months from 1 October 2022 to 39 Seplertber 2923 . Depreciation is to be provided as follows: Buldings: 2% per yoar on a straight line basis Fixtures and fitings: 10 s. per year on a rodxing balance basis. Corporation tax of 48,000 on the current ywar's profts is to be provided. Required: Prepare an income statement and a statement of movements in equaty for the year ended 31 December 2022 and a stalement of fransia position at 31 Decenber 2022 for Fernando Limiled. (2.5 marks)