QUESTION 1 T] 1. Corporation tax for the year is estimated at 100,000. 2. Salesmen are owed commission of 3,000 in respect of December sales. It will be paid on 31st January 2022 and has not been recorded in the ledger accounts yet. 3. Goods valued at 980 were sent to customers on 31st December 2021. Payment is due on 28 February 2022. This has not been recorded in the ledger accounts yet. 4. The preference shares should be included within equity. Required: a) Prepare an income statement for the year ended 31st December 2021 for Wales plc and a statement of financial position as at that date. b) Why does the statement of financial position balance