Particulars Furniture Motor Vehicle Purchases DR ($) CR($) 150,00 OO 600,00 1,000,5 oo 160,50 ol 3,000 5,000 Wages 120,000 150,000 300,000 49,500 30,000 Bad debts Provision for depreciation - Furniture Provision for depreciation - Motor Vehicle Capital Loan Bank Rent received from Jermain Brown Discounts Returns Carriage inwards Rent paid Provision for bad debts Accounts payable Drawings Stock at April 1, 2017 3,500 4,500 40,000 22,000 2,500 s 80,000 1,500 94,000 8,000 235,00 0 25,500 35,000 Cash Accounts receivable les Commission receivable Insurance Carriage outwards 1,670,9 O 20,000 6,000 18,000 2,417,0 2,417,00 00 f) Stock at the yearend was valued at $67,700. g) Depreciation rates are as follows: : i. Furniture - 10% per annum on the reducing balance basis ii. Motor Vehicle - 10% per annum on the straight line basis Required: a) Prepare Chantal Clarke's Statement of Profit or Loss (25 marks) b) Prepare Chantal Clarke's Statement of Financial Position (15 marks)