Question 6 The following are the descriptions of items in the financial statement: Descriptions Financial Elements of Financial Statements Statements 1. Sales of inventories 2. Allowance for doubtful debts 3. Dividends income 4. Unearned revenue 5. Loss on disposal of equipment 6. Amortization expense 7. Written down amount of inventories 8. Finance costs Required: a) Fill up the table above by classifying the following descriptions under the appropriate elements of the financial statement. b) Briefly explain the general purpose of financial statement according to The Conceptual Framework for Financial Reporting