Rachel Co. had opening balances at 01 January 20X0 as follows: Items $ Cash 30000 Inventory 14000 Trade receivables 25000 Non-current assets 90000 Share capital 1$ 80000 Retained earnings 21000 Trade payables 38000 Employees payables 12000 Tax payables 8000 In the first quarter of the year, the available transactions were as follows: 1, 2, 3, 4, Credit purchase Payment to suppliers Credit sales Receipts from Sales NCA acquisition, paid by cash Wages and salaries expense incurred $72,000 $65,000 $150,000 $120,000 $,24000 $23,500 5, Additional information: Closing inventory (at 31 Mar 20x0): $8,000 Wages and salaries outstanding at 31 March 20X0: $9,000 Tax payables at 31 March 20X0: $7,000 All non-current assets were depreciated at the rate of 20% at cost per annum At 01 January 20xo, total cost of NCA: $120,000; accumulated depreciation: $30,000. CIT rate: 15% Required: Prepare those following statement (for internal use): Income statement for the quarter ended 31 March 20X0 Statement of financial position at 31 March 20x0 Statement of cash flows for the quarter ended 30 March 20X0