Section C: Problem Solving (Total: 8 marks))awenA nor Exercise 1: Barakah Company Balance Sheet as at 31st December 2022 Financed by: Fixed Assets (net after depreciation) $ $ Paid-up: Share Capital 600,000 Land & Buildings 300,500 Retained Earnings 150,500 Equipment 250,500 Reserves 80,000 Vehicles 150,000 830,500 Fixtures & Fittings 50,000 Long Term Liabilities 25,000 751,000 Current Assets Current Liabilities Inventory 125,000 Other payables 100,000 Accounts Receivable 215,000 Trade creditors 245,500 Cash at Bank 120,000 Accrued expense 30,000 375,500 Cash in Hand 20,000 1,231,000 1,231,000 Additional Information: i) ii) Work-in-Progress is a quarter of the total Inventory. Bad Debt is $15,000 for the year. Non-Muslim ownership is at 20%. Required: Determine the zakat base and due for the company using: (a) Net Current Assets method; and (b) Net Invested Fund Method. (4 marks) (4 marks)