Problem #3 20 Marks: As the Director of Finance for Cambie Groceries Ltd., you are preparing the annual financial statements of the company for the year ended February 29, 2020. The figures below are in ($1,000): Accounts payable 300 Store furniture and fixtures 9,900 Common shares 3,100 Sales discount 300 Mortgage payable 5,300 Rent expense 2,100 Accumulated depreciation Store furniture and fixtures 3,500 Income tax expense 400 Accounts receivable 5,900 Retained earnings, March 1, 2019 5,100 Cost of goods sold 5,300 Prepaid rent 500 Unearned sales revenue 300 Cash 600 Depreciation expense 1,100 Investment in Lee Ltd.s common shares 1,000 Salary expense 3,600 Sales revenue 13,600 Interest expense 400 Dividends declared 100 Additional Information 1. Cambies managers do not intend on selling its investment in Lee Ltd.s common shares for several years. 2. $600 in Cambie common shares were issued to investors during the fiscal year ended February 29, 2020. 3. Your banks commercial loans officer provides you with a schedule of future mortgage payments. According to this schedule, $1,600 in loan principal will be paid off over the next year. REQUIRED: Using this information, prepare the following annual financial statements in proper form for the year ended February 29, 2020: (a) Income Statement Multi-step format (b) Statement of Changes in Equity (c) Balance Sheet Classified format