Maria Co 31 December 2020 Adjusted Trial Balance BHD BHD 11250 21,500 4.800 2,500 60,000 34,130 5,000 150 5,000 5,900 28,600 Cash Trade receivable Inventory 1 lanuary 2020 Prepaid insurance Equipment Accumulated depreciation - Equipment Account Payable Interest payable Note payable Salaries Payable Owner's capital Owner's drawing Sales Insurance expense Depreciation expense Rent expense Carriage in Purchases Sales returns & allowance Sales discount Purchases returns & allowance Interest expense Total 1,000 61,400 12,000 12,100 850 500 6,000 3,800 4,000 250 130 140,430 140,430 Inventory 31 December 2020 BHD 4,000 Required: 1- Prepare the following financial statements for Maria Co for the period ended 31* Decmber 2020: (A)-Statement of profit&loss (18 marks) (B)-Statement of changes in owner's equity (6 marks) 2- you are a senior accountant, a junior accountant that you supervise told you he doesn't understand the Qualitative Characteristics of Financial Information. Can the junior accountant be successful in his job without an understanding the Qualitative the Qualitative Characteristics of Financial Information Characteristics of Financial Information? Explain your answer with two clear examples. (6 marks) Focus nited States) A U . :=