QUESTION 1. [30 MARKS] The treasurer of the Katutura Sports Club has produced the following receipts and payments statement for the year ended 31 December 2016: Receipts Balance at bank 1 Jan 2016 Subscriptions received Profit from dances Profit on exhibition Coffee bar Sales Sale of equipment 1,298 3,790 186 112 2,798 Payments Coffee bar purchases Wages of cleaners Rent of Rooms New equipment bought Travelling expenses for team Balance at bank 31 Dec 2016 1,456 1.776 887 565 66 673 2.893 8.250 8.250 Additional Information Coffee bar inventories were valued as follows: 1 January 2016, N$59 and 31 December 2016, N$103 On 1 January 2016, the club's equipment was valued at N$2 788. Included in this figure, valued at N$77, was the equipment sold during the year for N$66. (iii) The amount to be charged for depreciation of equipment for the year is N$279. This is in addition to the loss on equipment sold during the year. (iv) Subscriptions owing by members by 31 December 2016. N$29 Wages paid for coffee bar cleaners was N$650 REQUIRER Draw up the: a) Coffee bar trading statement for the year ended 31 December 2016 b) Statement of affairs as at 1 January 2016 c) Income and Expenditure Statement for the year ended 31 Dec 2016 d) Statement of Financial Position as at 31 December 2016 e) List 5 main sources of finance for Non-Trading Concerns. [5 Marks) [3 Marks) [9 Marks) [8 Marks) [5 Marks)