Preparation and Presentation of I/S The following balances are extracted from the accounting records of New Zenith as at 31 December 20X2: (all amounts in ) Land Buildings Accum. depreciation building:s Equipment Accum. depreciation equipment Trade receivables Cash and cash equivalents Inventory (Opening balance at 1 January 20X2) Short-term financial investments Share capital Reserves (retained earnings) 125,000 200,000 -126,000 80,000 -24,000 98,250 219,480 478,520 100,000 450,000 96,000 186,790 300,000 1,980,480 1,300,990 -230,487 -306,543 -24,000 rade payables Long-term debt Revenue Purchases Salaries Other operating expenses Interest expense Year-end adjustments 1. Part of the inventory is impaired. The carrying amount of the impaired inventory is 50,000, whereas its net realizable value is measured at 45.000 2. The closing inventory is valued at 505,470 (after taking into account the impairment OSS 3. No depreciation has been provided for 20X2 yet. The company uses the following depreciation rates: 3% straight-line for the buildings and 30% diminishing balance for the equipment. 4. The audit fee has been agreed at 10,000 5. A subscription to the Financial Times has been recognized and paid in December 20X1, but covers the first six months of 20X2: total amount 200 6. Trade receivables include a receivable of 2,400 which is assessed to be irrecoverable 7. The company will receive 20X2 interest income on the short-term financial investments in January 20X2: total amount 2,000 8. Current tax expense is estimated at 38,219 and is still to be recognized. Required: Please prepare the Statement of Financial Performance (I/S) for the accounting period ending on 31 December 20X2