Question 3 (Accrual Accounting) (10 marks) Dijo Catering services provides catering services for special occasions. During 2020 Dijo performed R128 300 of catering services and collected R118 500 of cash from customers. Salaries earned by Dijos employees during 2020 were R38 500. Dijo paid employees R35 000 during 2020. Dijo had R1200 of supplies on hand at the beginning of the year and purchased an additional R8000 of supplies during the year. Supplies on hand at the end of 2020 were R1830. Other selling and administrative expenses incurred during 2020 were R5800 Required: 1.Calculate revenue and expenses for 2020 (5) 2.Prepare the income statement (3) 3.Describe thew accounting principles used to prepare the income statement (2)