Required: Prepare the following: a. Income Statement (5.5 Marks) b. Statement of Changes on Owners Equity)

The following are the ledger balances of Anas Consultancy Services for the year ended, December 31, 2019: ACCOUNTS Accounts Receivable Accounts Payable Salaries Expense Petrol Interest Payable Bank Drawing Bills Payable Motor Van Service Revenue Advertising Payable Salaries Payable Unearned Revenue Capital Accumulated Depreciation - Motor Van Miscellaneous Expense Insurance Expense Interest Expense Notes Payable Cash Rent Expense Commission Received Utilities Expense Insurance Payable Printing & Stationery Outstanding Rent Depreciation Expense Motor Van AMOUNT (OMR) 35,450 45,820 11675 2350 2,850 15,750 1450 2,200 20,610 31,500 3,540 1180 5,900 40,875 6,000 500 1,850 755 2,350 54520 5550 1050 3100 5.140 2.600 12.330 4.575 Question No. 5