Question 3: Income statement ("Statement of profit or loss') and statement of financial position Inventus Inc. had the following account balances as of and for the year ended 31 December 2020: Prepayments received Long term bonds Interest payments Depreciation Trade Receivables Salaries and wages Finished goods Capital & reserves Taxation Prepayments made Trade payables Insurance Raw materials Cash Sales revenue Machine $80 $310 $30 $250 $320 $130 $380 $960 $65 $60 $210 $50 $180 $60 $720 $600 Required: (a) Prepare a statement of financial positions for Inventus Inc. Begin by calculating any missing figures (e.g., missing account balances) if applicable. (12 marks) (b) Prepare an income statement ('statement of profit or loss') for Inventus Inc. (10 marks) (C) Discuss whether a piece of equipment is a current or a non-current asset. Start your discussion by differentiating between current and non-current assets and then illustrate with one example each when a piece of equipment would be a current vs. a non-current asset. (8 marks)