Rabie Ltd is a company that distributes a range of thermal and flecce clothing to retailers around the country. The company is listed on the Namibian Stock Exchange. The draft trial balance of Rabie Ltd at 31 March 2019 is as follows: The following information is relevant and should be considered: 1. The ordinary share capital consists of 2000000 shares. 2. The net realizable value of the inwentory at the reporting date was estimatod at NS 2 c80 000 . 3. Rabie ttd dassifies expenses according to their function. The financial directer categoriaes the function of the business into three areas, namely; sales, distribution and administration. 1. The distribution department seocially wraps al hems in a protective wrapping before the items are shipped. The goods are tramported by an indspendont road trankport entity to the retailers. NS 8000 of the road transport cost have been paid in advance for the following period. 1. The administrative department isses stationery, provide effreshments and are responsible for the cleaning of the head office. Cleaning expenses of NS 5000 hove been invoiced but not paid in respect of March 2019. IIL The depreciation expense is allocated NS 50000 to distribution and NS 25000 to administration. The salaries are allocated NS 250000 to distribution and NS 450000 to administration. The bad dobts are a distribution exponse and the donations are an administration expense. 4. The income tax expense has been correctly calculated at NS 180000. 5. The borrowings represent a loan of NS 900000 . The loan agrewment was signed on 01 October 2018 and is repapable in thres equal annual arrear instalments. Imterest on the loan is at 12% and payble on the first day of each month. The first instament is due to be paid on 30 September 2019. The existing loan agrovment provides Rabie Ltd with the option before the and of the current reporting period. 6. A final dividend of NS 75000wax declared on 15 Aqeil 2019 in respect of the vear ended 31 March 2019. No interim dividends were declared. A final dividend of NS 60000 was declared on 14 April 2018 in respect of the vear ended 31 March 2018. 7. There are no components of comprehensive income. B. The financial statoments have not yet been authorked for ksue. You are required to: 3.1 Prepare the statement of profit or loss and other comprehensive income of Rabie ttd for the vear ended 31 March 2019 in conformity with the IFaS and Companies Act 71 of 2008 . [20 marks) 3.2 Prepare the statement of financial position of Rabie Ltd as at 31 March 2019 for the vear ended 31 March 2019 in conformity with the IFAS and Companies Act 71 of 2008. (10 marks)