Kaif LLC is involved in the manufacture of dairy products. It provides you the following details, you are required to prepare a Statement of Financial Performance clearly showing: 1. Net sales 2. Cost of Goods sold, 3. Gross profit, 4. Net income before interest and Tax, 5. Net income after interest and tax (7 marks) Particulars Amount(OMR) Opening stock 6400 Rent(Dr.) 2500 Expenses for production 1800 Repairs to plant 3500 Fire Insurance premium 500 Bank Charges 300 Wages and Salaries 20,000 Selling Expenses 950 Freight on Sales 980 Printing and Stationery 1420 Office Lighting 600 Sales 80,000 Purchases 60,000 Return outwards 3000 Tax 40% Closing stock 5240 After calculating the net income, consider the following information. Kaif LLC has in issue 10% 1500 bonds having a par value of OMR 100 was issued at 10% discount. It also has in issue 8% 50,000, Cumulative Preference shares issued at a premium of OMR 2 which has a face value of OMR 0.500 A. Comment and show how the net income of the company will be affected :( 1.5 marks) a. Will there be any change in the net income due to the existence of bonds? b. What will be effect on the net income or loss due to the Cumulative preference shares? B. How will you show the Bonds and non-cumulative preference shares and any other item which can be included in the Statement of Financial Position (1.5 marks)