Question 2 (25 marks) $ 756,000 The trial balance of Chilis Limited at 30 April 2020 as follows: $ Revenue Purchases 446,000 Inventory at 1 May 2019 32,000 Sales staff salaries and commission 83,000 Administrative salaries 57,000 Carriage outwards 24,000 General expenses 45,000 Interest on debentures 5,000 Goodwill 100,000 Freehold premises 169,000 Delivery vans 45,000 Office machinery 25,000 Trade receivables 60,000 Trade payables Cash and cash equivalent 66,000 Ordinary shares Debenture 2027/2029 Share premium Reserve Retained profit at 1 May 2019 Dividend paid 4,900 1,161,900 42,000 180,000 100,000 30,000 40,000 13,900 1,161,900 Additional information: Inventory at 30 April 2020: $54,000 Required: Prepare Statement of Profit and Loss (13 marks) and Statement of Financial Position (12 marks) for the year 2020