NOT on the question paper. Question 1 Rose plc's Statement of Financial Position at the end of the previous financial period is given below. Rose plc Statement of Financial Position as at 31 " December 2021 Question 1 continued Continued... Notes: 1. It can be summarised from the company's bank statements that the following transactions occurred during the financial year (1" Jan 2022 to 31=11 Dec 2022). 2. During the current financial period, an item classified as Machines and Equipments was purchased for $75,000 (paid in cash). The acquisition and depreciation of this item have not been recorded. For all non-current assets, a full year's depreciation is charged in the year of acquisition and none in the year of disposal. 2. The depreciation policy of the Property, plant, and equipment is as follows: - Freehold properties to be depreciated at an annual rate of 4% using the straight line method k. Machines and equipments to be depreciated at an annual rate of 10% using the reducing balance method No depreciation has yet been charged during the reporting period. 4. The insurance fees paid (Note 1 ) is an advance payment (paid on 1 : October 2022) of an annual insurance policy which covers the period of 1 toctober 202231th September 2023. 5. The accrual is created for unpaid wages and salaries carried forward from the previous financial period ( 1 * January - 31 December 2021) which has been fully paid in the current financial period ( 1 st January 31th December 2022). The payment of this accrued wages and salaries has been added up to the total amount of "Wages and salaries paid" shown in Note 1. 6. The tax liability represents corporation tax charge from the previous financial period (1" January 31st December 2021) which has been fully paid in the current financial period (1" January 31"tt December 2022). The current year corporation tax expense estimated to be 233,500 remains unpaid at the end of the current financial period. Continued... Question 1 continued 7. The long-term bank loan incurs an interest charge of 4.5% per annum. The current year's interest expense has been paid. In the past five years, interest payment has been treated as financing cash outflow. 8. The balances of the following financial statements' items as at 31sit December 2022 (subject to Note 9 ) are given below. December 2021) which has been fully paid in the current financial period (11) January - 31tut December 2022). The current year corporation tax expense estimated to be 33,500 remains unpaid at the end of the current financial period. Continued... Question 1 continued 7. The long-term bank loan incurs an interest charge of 4.5% per annum. The current year's interest expense has been paid. In the past five years, interest payment has been treated as financing cash outflow. t. The balances of the following financial statements' items as at 31sil December 2022 (subject to Note 9 ) are given below. - During the current financial period, Lavender plc, a long standing customer, has announced bankruptcy. Unpaid sales invoices owed by Lavender plc amounting to 11,250 are still included in the "Trade receivables" balance shown in Note 8. Required a) Prepare the Statement of Comprehensive Income for the year ended 31sin December 2022 for Rose ple. (10 marks) 6r Prepare the Statement of Cash Flows for the year ended 3121 December 2022 for Rose plc. You should use the direct method for calculating the net cash flow from operating activities. (6 marks) (e) Prepare the Statement of Financial Position as at 31 th December 2022 for Rose plc. ( 9 marks) Please show all necessary workings, including the double-entries for any adjustment made in a general ledger (T-account) or joumal entry format. NOT on the question paper. Question 1 Rose plc's Statement of Financial Position at the end of the previous financial period is given below. Rose plc Statement of Financial Position as at 31 " December 2021 Question 1 continued Continued... Notes: 1. It can be summarised from the company's bank statements that the following transactions occurred during the financial year (1" Jan 2022 to 31=11 Dec 2022). 2. During the current financial period, an item classified as Machines and Equipments was purchased for $75,000 (paid in cash). The acquisition and depreciation of this item have not been recorded. For all non-current assets, a full year's depreciation is charged in the year of acquisition and none in the year of disposal. 2. The depreciation policy of the Property, plant, and equipment is as follows: - Freehold properties to be depreciated at an annual rate of 4% using the straight line method k. Machines and equipments to be depreciated at an annual rate of 10% using the reducing balance method No depreciation has yet been charged during the reporting period. 4. The insurance fees paid (Note 1 ) is an advance payment (paid on 1 : October 2022) of an annual insurance policy which covers the period of 1 toctober 202231th September 2023. 5. The accrual is created for unpaid wages and salaries carried forward from the previous financial period ( 1 * January - 31 December 2021) which has been fully paid in the current financial period ( 1 st January 31th December 2022). The payment of this accrued wages and salaries has been added up to the total amount of "Wages and salaries paid" shown in Note 1. 6. The tax liability represents corporation tax charge from the previous financial period (1" January 31st December 2021) which has been fully paid in the current financial period (1" January 31"tt December 2022). The current year corporation tax expense estimated to be 233,500 remains unpaid at the end of the current financial period. Continued... Question 1 continued 7. The long-term bank loan incurs an interest charge of 4.5% per annum. The current year's interest expense has been paid. In the past five years, interest payment has been treated as financing cash outflow. 8. The balances of the following financial statements' items as at 31sit December 2022 (subject to Note 9 ) are given below. December 2021) which has been fully paid in the current financial period (11) January - 31tut December 2022). The current year corporation tax expense estimated to be 33,500 remains unpaid at the end of the current financial period. Continued... Question 1 continued 7. The long-term bank loan incurs an interest charge of 4.5% per annum. The current year's interest expense has been paid. In the past five years, interest payment has been treated as financing cash outflow. t. The balances of the following financial statements' items as at 31sil December 2022 (subject to Note 9 ) are given below. - During the current financial period, Lavender plc, a long standing customer, has announced bankruptcy. Unpaid sales invoices owed by Lavender plc amounting to 11,250 are still included in the "Trade receivables" balance shown in Note 8. Required a) Prepare the Statement of Comprehensive Income for the year ended 31sin December 2022 for Rose ple. (10 marks) 6r Prepare the Statement of Cash Flows for the year ended 3121 December 2022 for Rose plc. You should use the direct method for calculating the net cash flow from operating activities. (6 marks) (e) Prepare the Statement of Financial Position as at 31 th December 2022 for Rose plc. ( 9 marks) Please show all necessary workings, including the double-entries for any adjustment made in a general ledger (T-account) or joumal entry format