Question 3: Healthy Spices Ltd has prepared a statement of profit or loss for the 12-month reporting period ended 30 June 2021 on a cash basis, showing a $64 800 profit. The cash-based statement shows the following. Sales Inventory purchased $416 100 246 000 170 100 Gross profit Expenses Salary and wages 42 600 Rent 13 800 Insurance 5 160 Advertising Administration Interest 8 400 28 200 7 140 Additional information . The accounts receivable and accounts payable balances at the start of the reporting period were $24 600 and $14 700 respectively. At the end of the reporting period, Healthy Spices had accounts receivable of $31 800 and accounts payable of $29 640. The opening inventory was $48 000 and the closing inventory $57 000. An advertising invoice of $4440 had not been paid. The business has equipment that cost $60 600. It has a useful life of five years and an expected salvage value of $6600. . The insurance expense represents the 12-month premium on a policy that was taken out on 30 April. Required Prepare an accrual-based statement of profit or loss for Healthy Spices Ltd for the year ended 30 June (you are advised to show any workings).