Q2. What are the items to be included in IFRS Financial statement forms? And the Global Oman Corporation want to prepare and show its financial position for the year 2017. The information provided to you the following: Share capital RO 176,000, Retained earnings RO 25,600 Long term debt RO 84,500 Share premium RO 12.500 Trade payables RO 99,400 Rent outstanding RO 1800 Trade receivables- RO 112,400 Other current financial liability RO 3,400 Income tax payables- RO 2,600, Deferred tax liability RO 5,600 Analyze the above items and prepare the Balance sheet of the above business by showing the classification of liabilities as per IFRS.