Problem 1: Statements of Comprehensive Income & Financial Position (25 marks) The following account balances are taken from the books of Barons Foods Ltd on 31 December 2018. Revenues and expenses are for the year ended 31 December 2018. The retained profits balance is as at 1 January 2018. N$ Particulars Accounts receivable 13 450 13 910 42 780 4610 Accounts payable Advertising expense Cash Confectionery sales Cost of confectionery sold Electricity expense Furniture and fittings Inventory Land and buildings Loan payable Projection equipment Rent expense Retained profits, 1 January 2018 Share capital Ticket revenue 12 300 10 500 5 090 34 000 18 000 60 000 35 000 41 000 33 200 59 720 60 000 81 700 Required 1. Prepare a statement of comprehensive income for Barons Foods Ltd for the year ended 31 December 2018 (9 marks) 2. Prepare a note for retained profits for the year ended 31 December 2018. (3 marks) 3. Prepare a Statement of Financial Position at 31 December 2018. (13 marks)