Henry is a merchant, buying and selling cotton bales. His accounting data for the year to 31/12/20X9 is shown below. ' Dr ' Cr 75,000 51,750 12,500 48,000 9,500 19,200 Account Sales (3,000 bales) Purchases (3,450 bales) Other Business Costs Plant Cost/Depreciation Research Costs Rec'bles allowance ** Bad Debts written off Cash at Bank Debtors/Rec'bles Creditors/Pay'bles Opening Inventory (750 bales) Owner Equity at 1 Jan 20X9 1,200 1,600 4,500 18,000 9,750 11,250 51,950 157,100 157.100 Note ** The Receivables Allowance, or Allowance for Receivables, are IAS terms for the Doubtful Debt provision. [Source: 28HenryQ/BS1002/2010-11/cde-ver01] Required: A1. Prepare the income statement and SoFP (balance sheet) for Henry at 31/12/20X9, if, 1. Cotton market price per bale is 20 at 31/12/X9; 2. Research costs are written off over 10 years; 3. Reducing balance depreciation on Plant is 20% pa; 4. The doubtful debt provision will be 5% of rec'bles; A2. Prepare the income ement and SoFP (balance sheet) for Henry at 31/12/20X9, if, 1. Cotton market price per bale is 12 at 31/12/X9; 2. Research costs are written off when incurred; 3. Straight line depreciation on Plant is 20% pa; 4. The doubtful debt provision will be 5% of rec'bles