QUESTION 1 (102, 103 and 104) Apha Bakery Limted produces accounts to 31 December each year, You workfor the finandial controler who is currently preparing the accounts for the period to 31 December 2023 and has asked for your assisunce. The following trial balance has been extraded from the general ledger. You have been provided with the following additional information: - Depreciation is charged on buildings on a straicht-line basis over 25 vears. - The value of the land at cost is f325,000. - Plant and machinery is depreciated at 25% on a reduding balance basis. - Induded in the inventory valuation is 67,000 relating to goods which will have to be sold off at a diccount. It is believed the maximum amount that could be gererated from the sale of this imventory is f5,s00. - The general provision for doubtiful receivables is to be maintained at 5% of the receivables balance. The allowance for receivables is treated as an adminitrative expense. - Adminitrative expense includes a payment of 64,320 for business rates for the 12 months to 31 March 2024 - Al depreciasion is to be charged to cost of rales. - The suspense account balance is thought to have been created as a result of one of the following errors: - A sales involice was incorrectly recorded as f100,000 rather than 6148,000. - A f48,000 cortra was correctiv applied to the receivables control account but the correspondine entry was not made to the payables control account. Prepare the statement of profit or loss and the statement of financial pouitionfor Alpha Bakery tud as at 31 December 2023