QUESTION TWOCapital: Amanda $(1$ January $2009).$Capital: Sphindile $(1$ January $2009)$Current account: Amanda $(1$ January $2009)($cr$)$Current account: Sphindile $(1$ January $2009)($dr$).$Land and buildings at cost$.$Vehicles at cost$.\mathrm{.}2.$Accumulated depreciation: Vehicles $(1$ January $2009).$Debtors controlCreditors control.Bank $($dr$).$Fixed deposit: Third National Bank.Drawings: Amanda...Drawings: Sphindile..Loan to Sphindile...Loan from Amanda...Allowance for credit losses..Sales.Purchases...Inventory $($merchandise$)(1$ January $2009).$Salaries and wages...Water and electricity.Interest expense: Loan from Amanda..Settlement discount grantedInterest income: Fixed deposit.Stationery consumed.Telephone expenses.Insurance on purchases.Freight on sales..Partnership agreement:The partnership agreement stipulates the following:a$.$ The partners Amanda and Sphindile share the profits or losses in the ratio of $3$:$2$ respectively.Year$-$end adjustments:$1.$ Inventory on hand at $31$ December $2009$:Merchandise$83000$Stationery $($stationery purchased is recorded in the stationery consumed account$)(25$ MARKS$)35000025000060000$R$4000049400019800042000$REQUIRED:$145560106300$NB: Show all calculations$\mathrm{.}26582190006480043200408001700002500650000$b$.$ Interest at $10\%$ per annum is allowed on the opening balances of the partners' capital accounts.c$.$ Amanda is entitled to a $10\%$ commission on sales$\mathrm{.}30400070800132960470054003800171050002620845003200$ROn $30$ September $2009,$ a delivery vehicle was purchased for R$85000$ cash. All the necessary entries weremade in the books$\mathrm{.}8503.$ Depreciation must be provided on vehicles at $10\%$ per annum according to the straight$-$line method$4.$ The loan from Amanda was obtained on $1$ September $2007$ at $5\%$ interest per annum. The loan will be repaidin five equal annual instalments, starting from $31$ December $2010.$ The interest must be paid to Amandaannually$5.$ During the financial year Sphindile was granted an interest free loan which she agreed to settle in full on $30$June $2010\mathrm{.}6.$ The water and electricity account of R$400$ for December $2009$ was received on $10$ January $2010\mathrm{.}7.$ A debtor owing the business R$5560$ has for the past financial year defaulted on his payments and his accountmust be written off as irrecoverable. The allowance for credit losses must be adjusted to R$3200\mathrm{.}8.$ During the financial year R$40000$ was paid to Amanda as commission on sales. These payments wererecorded in the salaries and wages account$9.$ The fixed deposit at Third National Bank was made on $1$ January $2008$ for a period of $5$ years at $9\%$ interestper annum. The interest is receivable at the end of each borrowing year.Prepare the statement of profit or loss and other comprehensive income of A&S Supermarket for the yearended $31$ December $2009.$ Your answer must comply with the requirements of International Financial ReportingStandards $($IFRS$)$ appropriate to the business of the partnership $($notes and comparative figures are notrequired$).$ please show the format in excell