Mr. George Amoako, a self-employed single parent with two children attending a private University in Ghana trades as George Amoako Enterprise. He commenced business on 1st January 2016 and submitted the following extracts of his financial statements for the year ended 2016. Gross Profit b/d GH GH 20,420 Interest on savings account 2,020 Gifts received 1,500 Interest on treasury bills 790 Auditor's fees 800 Depreciation of assets 1,200 Computers purchased 2,500 PAYE paid on his personal salary 450 Employee social security contribution (other staff) 396 Office rent 2,400 Personal salary (net) 7,200 Other staff wages 4,300 Stationery 852 Vehicle purchased for CEO's personal use 18,000 Transport 1,300 Page 2 of 17