QUESTION FOUR a) Briefly explain the principles of a good accounting system in the modern organization ( 9 marks) b) On 1" May 2021, MJOMBA, a retailer had the following balances in his books. Premises sh.700,000; Equipment sh.82,000 Vehicles sh.51,000; stock sh.95,000; Trade debtors sh.15,500 Mjomba does not keep proper books of account but the bank statement covering the 12 months from 1" May 2021 to 30m April 2022 were obtained from the bank and summarized as follows:- It has been discovered that in the year ending 30 April 2022 Mjomba had paid into bank all the shop takings apart from cash used as follows: (i) Miscellaneous expenses sh.4,080 (ii) Monthly drawings sh. 5,000 per month At 30th April 2022 the following information was also obtained: (i) Sh 76,000 was owing to suppliers or stock bought on credit (ii) The amount owed by trade debtors is to be treated as a bad debt (iii) Stock was valued at Sh 136,200 (iv) Depreciation for the year was computed thus: Assume that no sales were made on credit during the year REQUIRED: Prepare the Income Statement for the year ended 30th April 2022 (16 Marks) Show ALL workings and assumptions TOTAL 25 MARKS)