PRACTICE QUESTION The following Trial Balance was extracted from the books of booo Municipal Assembly (AMA) as at 31a December 2021: Property rate Basic rates Debit GHe'000 Credit GH'000 450,000 200,000 50,000 40,000 10,000 110,000 80,000 620,000 980,000 Special rates Lorry park fees Marriage and divorce registration Building permits Penalties Market toll Share of District Assembly Common Fund District Development Facility Centralised Compensation for employees Herbalist licenses Hawkers licenses Other licenses Royalties Share of stool land revenue Market Store rent Other rentals Interest on investment 350,000 1,000,000 20,000 15,000 12,000 50,000 150,000 70,000 40,000 10,000 30,000 1,080,000 700,000 950,000 Gains from business Established post Non established post Goods and services Interest expense 20,000 Social benefits Other expenditure Bank and Cash Advances and loans. Short-term Investment Property, Plant and equipment Sundry payables Short term loans Deposits-Trust Accumulated Fund - Equity Total Additional information: 180,000 260,000 40,000 80,000 100,000 1,200,000 60,000 120,000 100,000 43,000 4.610.000 4.610.000 i) Revenues are classified as follows: Rate, Land Revenue, Fees and Fines, Licenses, Rent income, investment income and Grants. ii) The expenditure classification should comply with the harmonised Chart of Accounts iii) Consumption of fixed capital for the year is computed as GHe260,000,000. Required: a) Prepare: i) A Statement of Financial Performance for the year ended 31 December 2021; and ii) A statement of Financial Position as at 31 December, 2021. (Please show all workings clearly).