Part B The following are the unadjusted ledger balances of Gerbera Limited for the year ended 31 December 2023: $ Ordinary Share Capital 250,000 Sales 700,000 63,090 Trade payables Returns Outwards Purchases 18,000 200,600 Returns Inwards 1,210 Carriage outwards 1,240 Carriage inwards 1,040 Rental expense 75,000 Insurance expense 74,000 Advertising 80,000 Salaries 98,000 Cash at Bank 58,000 Opening Inventory at 1st January 2023 42,000 Trade Receivables 35,000 Plant and Equipment at cost 250,000 Accumulated Depreciation (1st January 2023: Plant and Equipment) 25,000 Motor Vehicles at cost 140,000 Additional information needed for year-end adjustments, are as follows: Insurance for January 2024 $1,500 $31,000 Closing Inventory, at 31 December 2023 Irrecoverable debts to be written off $1,700 Rental owing as at 31 December 2023 $25,000 $35,000 Depreciation for the year - Plant and Equipment Depreciation for the year - Motor Vehicles 20% on cost You are required to calculate the following values: i. Net Sales ii. Cost of goods sold iii. Gross Profit iv. Total Operating Expenses V. Net Profit Total Non-Current Assets Total Current Assets Total Equity Total Current Liabilities vi. vii. viii. ix. [1.5 marks] [3 marks] [1.5 marks] [4.5 marks] [1.5 marks] [2.5 marks] [3 marks] [2 marks] [1.5 marks] [Total: 21 marks]