Rob and Dysons are a retail outlet. Their unadjusted statements for 2020 are as follows:

Income statement 31 December 2020

Sales		99000
Cost of goods sold	613000
Gross profit		377000
rent	102000
salaries	74000
sales and distribution	67500
administration	80600
		324100
Net profit		52900

Statement of financial position 31 December 2021

non current assets	cost	acc dep	nbv
building	485000	116400	368600
motor vehicles	216000	54000	162000
			530600
current assets
inventory		64600
trade receivables		76800
bank		18100
			159500
total assets			690100
equity and liabilities
capital	419000
profit of the year	52900
			471900
non current liabilities
loan (5%)	139200
			139200
current liabilities
trade payables	79000
			79000
total equity and liabilities			690100

The following additional information is yet to be accounted for:

1. Thebuilding is to be depreciated at 6%perannum (straightlinebasis).

2. Motor vehicles are to be depreciated at 25% per annum (reducing balance

   basis).

3. Staff salaries of 4300 for December have not yet been accounted for.

4. A lump sum of 15200 was paid off the loan from the owner's personal funds in

   July.

5. Interest on the loan following the repayment was paid, but has not yet been

   recorded.

6. An invoice for unpaid administration expenses for 1860 was received in

   January for December.

7. The quarterly rent payment of 21000 was made in November.

8. A customer went out of business in December owing 1800. This amount will

   not be repaid.

9. Additional cash sales were made at the end of December. These amounted to

   25000. Costs have already been accounted for.

10. A provision of doubtful debts of 2% needs to be made.

Required:

Use the information above to make the required adjustments to the accounts for Rob and Dysons. Where calculations are necessary, clearly show your workings.

1. a) Using the figures calculated above, prepare the income statement for the year ended 31 December 2020 for Rob and Dysons.

2. b) Using the figures calculated above, prepare the statement of financial position as at 31 December 2020 for Rob and Dysons.