Meera started a business on January 1,2017 called Aroma, Inc. Aroma is a retail company that sells flowers and decorative plants, the following information was available on Aroma Inc.: During 2017, Aroma made sales totaling OMR 50,000 and paid OMR 42,000 in cash to its creditors. It purchased equipment costing OMR 25,000, paid OMR 1,500 for dividends and the cost of flowers and plants (goods) sold was OMR 21,00o. Also, the corporation incurred the following expensen during 2017: Salaries S8,000 Interest 500 Insurance 400 Electricity 600 Rent 340 Reguirements: a Using the above information, prepare the income statement for Aroma Inc, for the year ended December31, 2017. (Rubrics: 0.25 mark for each correet element and correct form for Inconme Statement and heading, 0.5 mark for the correct culculations of Net Income. Total =3 marks) b According to the information provided, what will be the effect of paying $42,000 to creditors on the accounting equation elements of Aroma Ine.? (Rubrics: 0.5 mark for correct answer. Total = 0.5 mark) e Using the above information, what is the amount of retained carnings on the balance sheet prepared as of December 31, 2017?