Question Two of the compar You are the financial analyst of Faida Retail company. The financial records were destroyed by fire. The financial data from the diary he kept in his residence. (All data unless otherwise stated are as of December 2016) been able to avail the followir 3 Current ratiou Accounts Receivable turnover Beginning accounts receivable Return on end of the year common equity Sales (All on credit) Average sale period Gross profit margin Expenses (excluding cost of goods sold) Total debt to equity ratio Non current Assets 16 Times 20% -7 36 days Shs.50,000 Shs.1000,000 50% Shs.450,000 Shs.300,000 Required: Using the above data, reconstruct: a) The statement of income for the year ended 31 December 2016 (5 marks) b) The statement of financial position as at 31 December 2016. Current assets consist cash, accounts receivable and inventory. The statement of financial positio classifications should include current assets, Non current assets, current liabilities, no (20 marks) [Total: 25 marks] current liabilities and equity