Prepare the statement of financial position at 31 May 2022

Resource for Question 2 - Parts (b) and (c). Claire provided the following information after the preparation of the statement of profit or loss for the year ended 31 May 2022. - The allowance for doubtful debts had been calculated at 3% of trade receivables. This should have been calculated at 4% of trade receivables. - Claire had not taken account of goods taken for her own use, $2500 - The 8% loan was taken out on 1 June 2018. On 31 May 2022 six months loan interest was outstanding and had not yet been accounted for. 25% of the loan is due to be repaid in the next 12 months