Question 2 [20 Martes] Min. the owner of a small company, come to you for help in reviewing the company's financial statements. She passed you a file containing many separate pieces of paper colated by her assistant In the file you noticed the following 2019 Balance sheet (noto1) All other assets less accumulated depreciation Cash Equity Loans (note 2) Payables Prepayments Receivables Supplies Total balance sheet this year 58 000 3 000 2 500 80 000 1 170 2 470 15 920 4 280 167 340 Notes: 1. Prepared on the accrual basis unless immaterial 2. Consists of loans from Wheelsbank (due 2020) and FirstBank (due 2021) 3. Receivables of R50 trom Zoe Ltd was netted off with payables of R200 to Zoe Ltd 4. Total balance sheet last year R140010 Required 21 Explain to Mia how the above balance sheet does not follow the general presentation requirements of financial statements by referring to the following accounting principles and concepts 2) 2) a. Idontification of the financial statements b. Fair procentaton a Compliance to the accounting standards d Accrual accounting e. Materiality and aggregation 1. Offsetting a Conectoncy and comparability (2) 2) 21 23 2) 22 Walse should Mia have included in the fie? (complete set of financial statements)