Question 2: (25 marks): Sainsbury retail store is maintaining its accounts on a calendar year basis. The business adjusts and closes its accounts at the end of the year. On December 31, 2020, the following balances appeared in the Un-Adiusted trial balance: Additional Information: i. The amount in the prepaid insurance represents a 5-year insurance policy that started 1 October 2020. ii. An inventory of Office supplies on 31 December 2020 revealed that office supplies used amounted to $9000. iii. The Office Building has an estimated useful life of 40 years, residual value $10,000 and depreciation is calculated using the straight-line method. iv. The Selling Equipment has an estimated useful life of 10 years, residual value $5,000 and depreciation is calculated using the Double Declining balance method. v. The amount credited to the unearned Sales revenue in the unadjusted trial balance represent advance payment for a 5-year service contract that started 1 April 2020. vi. Accrued Salesmen Salaries at the end of the year, $10,000. vii. Estimated Income taxes for the year, $30,000. Required: Prepare a Classified Income Statement for Sainsbury retail store for the year ended 31 December 2020