Please Show Solution. Thank You

1. Provide Statement of Financial position in horizontal and vertical form.

2. Provide the Notes to Financial Statements regarding the Face of the SFP and Materiality only.

Below are the respective accounts and their amounts (Use your Name as the Company Name, e.g. Jerome

Company). Also, please use 2020 as your calendar year. Materiality is set as 1% of total asset

Account Title Debit Credit Cash in Bank 200,000.00 Cash on Hand 300,000.00 Trade Accounts Payable 350,000.00 Notes Payable 120,000.00 Investment Property 350,000.00 Equipment,net 230,000.00 Prepaid Expenses 30,000.00 Supplies 15,000.00 Dividends Payable 250,000.00 Income tax Payable 100,000.00 Retained Earnings, unappropriated 1,580,000.00 Retained Earnings, appropriated 571,000.00 Cash in Bank Credit Balance 100,000.00 Trade Accounts Receivable 140,000.00 Trade Accounts Receivable, Credit balance 120,000.00 Merchandise Inventory 45,000.00 Land Improvements 60,000.00 Land 900,000.00 Prepaid Rent 35,000.00 Machineries 86,000.00 Ordinary share Capital 310,000.00 Preference share Capital 230,000.00 Cash set aside for the acquisition of PPE 500,000.00 Sinking Fund, Liability matures in 4 months 250,000.00 Building,net 750,000.00 Pettty Cash 15,000.00 Notes Receivable 50,000.00 Loans Receivale 75,000.00 Bonds Payable 300,000.00