Prepare the financial statements for Omega for the year ended 31st December 2017.A trial balance as at 31st December 2017 is shown below: Dr. 000 Cr. 000 63,000 38,000 70,000 30,000 8,500 500 800 Sales Purchases Property, Plant and Equipment at Cost Property, Plant and Equipment Accumulated Depreciation Inventories as at 1st January 2017 Interest Expenses Accruals Distribution Costs Administrative Expenses Retained Earnings as at 1st January 2017 Trade receivables Cash at Bank 8% Bank loan Share capital ordinary @1 nominal value Share premium Trade Payables TOTAL 6,000 6,000 21,500 7,500 1,500 6,000 11,200 4,000 1,500 138,000 138,000 Additional information provided to you: a) Management decided not to distribute divided for this year. b) 800,000 included in sales figure is on credit and is for the month of January 2018. c) Closing inventories amounted to 5,500,000. In this amount, inventories cost 300,000, but can be sold for only 150,000. d) 150,000 transportation cost is not included in the trial balance, since the invoice was received after the year end. e) Interest expense for the last 6 months has not been included. f) Corporate tax rate is 30% of taxable income